Dow Falls Nearly 350 points, Snapping a Three-Day Win Streak
The Dow Jones Industrial Average fell Monday, giving back some of the strong gains from last week, as Treasury yields rose and investors awaited new earnings reports.
The S&P 500 slipped 0.18% to 5,853.98. The 30-stock Dow lost 344.31 points, or 0.8%, to close at 42,931.60. The Nasdaq Composite was the outlier, rising 0.27% and ending at 18,540.01.
Consumer and homebuilder stocks were among the biggest losers as fears about higher-for-longer interest rates crept up, with Target down 3.8% and Builders FirstSource off by 5.2%. Lennar also shed 4.4%.
The yield on the 10-year Treasury jumped, rising nearly 12 basis points to 4.19%.
Source : CNBC