Market Snapshot: Dow Jones ends down for fourth day, S&P 500 posts longest losing streak of 2023

by | Oct 23, 2023 | Stock Market

U.S. stocks finished mostly lower on Monday, with the Dow Jones and S&P 500 each falling to almost five-month lows, even after the 10-year Treasury yield pulled back from 5%. How stocks traded
The Dow Jones
ended down by 190.87 points, or 0.6%, at 32,936.41 after having dropped by as much as 235 points during the New York session. It finished down for the fourth straight trading session.

The S&P 500
closed down by 7.12 points, or almost 0.2%, at 4,217.04. The index finished down for a fifth straight session, matching the five-session losing streak it had during the period that ended on Dec. 7.

Monday’s levels were the lowest closes for the Dow Jones and S&P 500 since May 31.

The Nasdaq Composite
rose 34.52 points, or 0.3%, to 13,018.33.

The Dow fell 1.6% last week, while the S&P 500 declined 2.4% and the Nasdaq Composite shed 3.2%. All three major indexes saw their biggest declines since the week that ended Sept. 22. On Friday, the S&P 500 also had its first close below its 200-day moving average since March.

What drove markets The 10-year Treasury yield
finished at a one-week low of almost 4.84% on Monday, after having briefly pushed above 5% to touch its highest level in 16 years earlier in the day. On Friday, the 10-year yield had its biggest weekly rise since April amid repeated rounds of selloffs. “We’re seeing a lot of volatility in the bond market, …

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