Dow Drops 400 Points as Treasury Yields Hit 19-Year High
Major U.S. stock indexes closed lower Monday as rising bond yields and oil prices weighed on markets, according to CNBC.
The Dow Jones Industrial Average fell more than 400 points on Monday as losses in U.S. equities accelerated following a 19-year high in the 10-year Treasury yield, CNBC reported.
According to the report, the major averages closed lower for the session as higher bond yields and rising oil prices kept the broader market under pressure throughout the day.
CNBC's live coverage did not provide additional details on specific sectors or companies most affected by the decline. The report characterized the day's trading as part of a broader pullback tied to bond market movements.
The rise in the 10-year Treasury yield to its highest level in 19 years was cited by CNBC as a key factor contributing to the market's downturn, alongside increases in oil prices.
Sources
- Dow falls 400 points as losses accelerate following a 19-year high in the 10-year Treasury yield: Live updates — CNBC — Top News
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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