U.S. stocks closed mostly lower on Monday in a choppy session that saw the 10-year Treasury yield briefly top 5% for the first time since in 16 years. The S&P 500 index
SPX,
ended about 7 points lower, or 0.2%, near 4,216, after flipping between modest gains and losses. That was the equity-market gauge’s fifth straight session of losses, its longest stretch of declines since Dec. 7, 2022, according to Dow Jones Market Data. The Dow Jones Industrial Average
DJIA,
shed about 191 points, or 0.6%, finishing near 32,936, while the Nasdaq Composite Index
COMP,
rose 0.3%, after earlier trading below 12,922.216, the closing level needed to solidify a finish in correction territory, according to Dow Jones Market Data. A correction is widely viewed as being set when an equity index closes at least 10% below its prior peak. The 10-year Treasury yield fell 8.8 basis points to 4.836%, after briefly punching above 5% earlier in the session. Earnings remain a key focus among investors, with Microsoft Inc.
MSFT,
and other powerful tech giants
GOOG,
AMZN,
set to report third-quarter earnings this week.
