Market Snapshot: Dow falls to kick off final week of September as bond yields surge

by | Sep 25, 2023 | Stock Market

Stocks were off to a lower start Monday as major U.S. benchmarks begin the final week of September on track for a losing month, with investors fretting over rising bond yields and indications the Federal Reserve plans to hold interest rates at high levels for an extended stretch.What’s happening
The Dow Jones Industrial Average
fell 123 points, or 0.4%, to 33,840.

The S&P 500
was off 5 points, or 0.1%, at 4,315.

The Nasdaq Composite
edged dwon 15 points, or 0.1%, to 13,197.

Last week, the S&P 500 fell 2.9%, its biggest weekly decline since the period ending March 10, as it finished at its lowest since June 9. The Dow finished Friday at its lowest level since July 10, while the Nasdaq saw its lowest close since June 7.

What’s driving markets A rapid climb in long-term interest rates continued to set the tone across markets. Rising yields can weigh on stocks, particularly when they move rapidly. Higher yields decrease the present value of future earnings, weighing on stock-market valuati …

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