In a choppy trading session on Monday, U.S. stocks largely ended in the red, while investors keenly awaited earnings reports, particularly from influential tech giants like Microsoft (NASDAQ:MSFT). The S&P 500 and Dow Jones Industrial Average posted losses, with the former extending its losing streak to the longest since December 2022.
The Nasdaq Composite Index, on the other hand, managed to eke out a small gain despite nearly entering correction territory – defined by a decline of 10% from its prior peak.
Monday's trading session also saw the 10-year Treasury yield briefly hitting a 16-year high of 5%, before retreating to 4.836%. This marked movement in the bond market is indicative of shifting investor sentiment and economic expectations.
The S&P 500's ongoing losses signal a period of heightened volatility in the key equity-market gauge, particularly following its longest losing streak since last year. Meanwhile, the Nasdaq's brush with correction territory underscores the challenges currently facing tech stocks amidst fluctuating market conditions.
Investors are now closely watching for earnings reports from major tech companies like Microsoft, which could potentially influence market direction and provide further insight into the health of the tech sector amidst these turbulent times.
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