U.S. stocks fell on Monday as a continuous rise in bond yields dented the appetite for risk assets, particularly growth technology stocks.
The Dow Jones Industrial Average dropped 120 points. The S&P 500 lost 0.7%, led by tech and consumer discretionary. The Nasdaq Composite fell 1.1%.
Some equity investors grew concerned about rapidly rising Treasury yields in recent weeks as they could especially hurt high-growth companies reliant on easy borrowing while diminishing the relative appeal of stocks. (CNBC)