NEW YORK (Reuters) – The New York Stock Exchange ended lower on Monday at the end of a sluggish session, as the rise in US bond yields continues to weigh on the stock markets.
The Dow Jones index fell 0.97%, or 418.48 points, to 42,573.73 points.
The broader Standard & Poor’s 500 lost 63.90 points, or 1.07%, to 5,906.94 points.
The Nasdaq Composite fell 235.25 points, or 1.19%, to 19,486.785 points.
The rise in Treasury yields, largely caused by speculation about the monetary policy that Donald Trump will adopt after he takes office on January 20, is putting strong pressure on US stock markets after their considerable gains of the last two years.
“Investors are saying that even after its decline in recent days, the S&P remains up more than 50% over the past two years,” said Oliver Pursche, senior vice president at Wealthspire Advisors in New York.
“They say maybe they should limit risk-taking and protect their gains. And when trading volume is low, it doesn’t take much (to move the markets).”
In this context, most large capitalizations are declining, like Meta (-1.42%) and Tesla (-3.30%).
Boeing fell 2.30% after a 737-800 crashed during landing at South Korea’s Muan airport on Sunday, killing 179 people.
(Written by Stephen Culp, Tangi Salaün)
Copyright © 2024 Thomson Reuters
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
