The Dow Jones Industrial Average dropped on Monday, pulling back some of last week’s strong gains, as Treasury yields rose and investors awaited new earnings reports, according to CNBC.
The S&P 500 slipped 0.18 percent, closing at 5,853.98. The Dow, made up of 30 stocks, lost 344.31 points, or 0.8 percent, ending at 42,931.60, halting a three-day winning streak. In contrast, the Nasdaq Composite rose by 0.27 percent, closing at 18,540.01.
Consumer and homebuilder stocks faced significant losses as concerns about persistently high interest rates emerged. Target dropped 3.8 percent, Builders FirstSource declined by 5.2 percent, and Lennar lost 4.4 percent.
