US benchmark equity indexes are on track to close lower on Monday, led by a selloff in Nvidia (NVDA) shares as investors respond to the latest manufacturing sector data.

The Dow Jones Industrial Average fell 1.7% to 43,084, while the Nasdaq Composite dropped 2.7% to 18,338.2. The S&P 500 was down 2% to 5,837.1. Energy, consumer staples and real estate posted gains today while energy and technology saw the steepest declines.

Super Micro Computer (SMCI) was the worst performer on the S&P 500 with shares down over 11% after reports that servers linked to a fraud case in Singapore were supplied by the company and Dell Technologies (DELL) and may have included Nvidia chips.

Verizon (VZ) shares were up over 1.4% a day after Lockheed Martin (LMT) said it is collaborating with Nokia (NOK) and Verizon to incorporate Nokia's 5G technology into its 5G.MIL Hybrid Base Station, which connects commercially available 5G with military communication systems.

The 10-year US Treasury yield lost 0.05 basis points to 4.2%, while the two-year rate was down 0.06 to about 3.9%.

April West Texas Intermediate crude oil was down 2.3% at $68.13 a barrel.