NEW YORK -- U.S. stocks drifted through a quiet Monday to finish mixed, as markets around the world stabilized following a wild week of extreme swings .

The S & P 500 ended the day practically unchanged, inching up less than 0.01%, after fluctuating between small increases and decreases throughout the session. The Dow Jones Industrial Average declined by 140 points, or 0.4%, while the Nasdaq composite gained 0.2%.

Trading in many European and Asian stock markets was subdued. This is a change from last week, which began with the worst day for Japanese stocks since the Black Monday crash of 1987, only to be followed by the best day for U.S. stocks since 2022 .

The Japanese yen weakened on Monday, easing some of the turmoil following an earlier spike that sent shockwaves through global markets. The sharp appreciation of the Japanese yen, triggered by an interest rate increase from the Bank of Japan , forced numerous hedge funds and other investors to exit a widely employed strategy simultaneously, in which they had borrowed yen at low interest rates to invest in other markets. This forced selling had significant ramifications around the globe.

A pledge made last week by a prominent Bank of Japan official to refrain from raising interest rates while market conditions remain "volatile" has contributed to market stability. However, other anxieties also fueled last week's market turmoil, including worries about a weakening U.S. economy .

Next week, we'll see reports on the rate of inflation and how much Americans are buying from stores . The best outcome for Wall Street would be data showing that inflation is continuing to slow , alongside robust U.S. retail sales.

This suggests the Federal Reserve is successfully navigating a delicate balance it has been trying to achieve since it started aggressively raising interest rates in 2022: It aims to cool the U.S. economy sufficiently to curb high inflation, but not so much that it triggers a recession .

A series of disappointing economic figures recently has sparked concern that the Fed may be overdoing its tightening efforts after maintaining its key interest rate at a 20-year peak. The most concerning development came earlier this month when data revealed a much larger-than-anticipated slowdown in hiring by U.S. businesses.

Regarding inflation figures, Bank of America strategists headed by Ohsung Kwon believe that a higher-than-anticipated reading would be more surprising to the market than a lower-than-anticipated result. This could result in a significant downturn for the market if inflation data surpasses predictions.

The Federal Reserve faces a difficult challenge in addressing a weakening economy accompanied by rising inflation, a situation known as "stagflation." Lowering interest rates could provide a boost to the U.S. economy but could also exacerbate inflationary pressures. Alternatively, maintaining high interest rates would curb inflation but potentially inflict further economic hardship.

While the U.S. economy continues to expand, and numerous economists predict a recession is improbable, concerns about it have, nevertheless, exerted downward pressure on Treasury yields within the bond market.

Treasury yields declined on Monday, anticipating the release of key economic data. The yield on the benchmark 10-year Treasury note decreased to 3.90% from 3.94% at the end of last week. The two-year Treasury yield, which is more closely linked to the Federal Reserve's policy outlook, also dropped to 4.01% from 4.06%.

Most stocks on Wall Street declined. But a 4.1% increase for Nvidia helped counterbalance many of those losses. Since it's one of the biggest U.S. stocks by market value, Nvidia's fluctuations have a significant impact on the S & P 500 and other indices.

It and other tech giants have faced volatility lately, experiencing a general decline over the past month. This downturn stems from concerns that their stock prices surged excessively during Wall Street's enthusiasm for artificial intelligence technologies.

KeyCorp surged 9.1% after the regional bank revealed a $2.8 billion investment from the Bank of Nova Scotia. The Cleveland-based bank stated that the capital injection will enable it to fuel expansion in its investment banking and wealth management operations.

Hawaiian Electric, facing significant financial challenges, reported disappointing spring earnings that fell short of analyst projections. The company expressed uncertainty about its long-term viability, stating that it may not be able to continue operations for another year without securing substantial financing. This financial distress stems from the estimated $1.71 billion in outstanding liabilities arising from the devastating Maui windstorm and wildfire . In response to this financial predicament, the company's stock plummeted by 14.5%.

In summary, the S & P 500 increased slightly, gaining less than a quarter of a point, 0.23, to close at 5,344.39. The Dow Jones Industrial Average declined by 140.53 points, ending the day at 39,357.01, while the Nasdaq Composite Index rose by 35.31 points, reaching 16,780.61.

Several major corporations will announce their financial performance for the recent quarter later this week, including Walmart and Home Depot. A majority of large U.S. companies have been reporting stronger profits for the spring season than analysts anticipated, but pressure is mounting on retailers due to concerns about the spending habits of consumers with lower incomes.

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AP Business Writers Matt Ott and Elaine Kurtenbach provided additional reporting.