Stocks fell Monday, weighed down by a jump in oil prices and Treasury yields to start the week.
The Dow Jones Industrials dumped 394.75 points to 51,433.87
The S&P 500 index moved lower 67.1 points to 7,667.63.
The NASDAQ Composite lost 280.6 points, or 1%, to 26,709.15.
Brent crude traded more than 2% higher at $106.79 per barrel. West Texas Intermediate futures gained around 2% as well to $94.40, after President Donald Trump rejected conditions for a ceasefire presented by Iran.
Stocks fell Monday, weighed down by a jump in oil prices and Treasury yields to start the week. Rates will be in focus again this week, with a slew of key economic data on deck.
The August personal consumption expenditure price index, the Fed’s preferred inflation gauge, is due out Wednesday. New U.S. manufacturing numbers are due Thursday, while the closely watched September jobs report is set for release Friday.
Prices for the 10-year Treasury regained lost ground, spiking yields to 5.26% from Friday’s 5.16%. Treasury prices and yields move in opposite directions.
Oil prices regained $2.87 to $95.28 U.S. a barrel.
Gold prices were faded $170.00 to $4,151.20 U.S. an ounce.
