Worries about rising bond yields and a strengthening dollar dragged down stocks Monday.
Rising yields have hurt stocks recently, stoking concerns that they could slow the economy by increasing borrowing costs for businesses and consumers.
All three major indexes were down more than 1%, with the blue-chip Dow shedding nearly 400 points.
The 10-year Treasury yield settled at 4.558%, its highest level since Oct. 16, 2007.
The WSJ Dollar Index edged up, extending recent gains that have brought it to its highest level since last November.
Persons:
”, Michael Antonelli, Baird, Brent
Organizations:
Treasury, Moody's, Amazon, Federal Trade Commission
Locations:
U.S, Europe