U.S. stocks slid after Treasury yields hit their highest levels since the summer and oil prices continued to climb.
The S&P 500 fell 1% Monday, though it’s still close to its all-time high set a week ago. The Dow Jones Industrial Average dropped 0.9% from its record set on Friday. The Nasdaq composite lost 1.2%.
Stocks felt pressure from jumping Treasury yields, as traders ratchet back forecasts for how deeply the Federal Reserve will cut its main interest rates following Friday’s blowout jobs report. Crude oil prices added to their big gains from the prior week.
On Monday:
The S&P 500 fell 55.13 points, or 1%, to 5,695.94.
The Dow Jones Industrial Average fell 398.51 points, or 0.9%, to 41,954.24.
The Nasdaq composite fell 213.95 points, or 1.2%, to 17,923.90.
The Russell 2000 index of smaller companies fell 19.71 points, or 0.9%, to 2,193.09.
For the year:
The S&P 500 is up 926.11 points, or 19.4%.
The Dow is up 4,264.70 points, or 11.3%.
The Nasdaq is up 2,912.55 points, or 19.4%.
The Russell 2000 is up 166.02 points, or 8.2%.
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Click the link below to learn more about how your portfolio could bloom.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
