Dow falls more than 300 points as oil and Treasury yields rise
U.S. stocks fall as oil prices and Treasury yields climb, pressuring Wall Street Watch the latest market moves and key economic data before the next trading session
U.S. stocks opened lower on Monday as higher oil prices and rising Treasury yields pressured the market. The Dow Jones Industrial Average fell 377 points, while the S&P 500 and Nasdaq Composite also declined.
Oil prices moved up after developments in the Middle East raised concerns about supply, with Brent crude and West Texas Intermediate both trading higher. At the same time, the 10year Treasury yield climbed above 5.2% and the 30year yield moved above 5.5%, near multiyear highs.
The move came after a strong week for several large technology stocks, including Meta, Microsoft, Apple, and Nvidia. Investors are now watching a busy stretch of U.S. economic data this week, including the Fed’s preferred inflation reading, manufacturing figures, and the September jobs report.