Stocks fell from last week’s record levels after rising bond yields weighed on the major indexes.
The Dow Jones Industrial Average was down 344 points, or 0.8%. The S&P 500 was down 0.2%. The Nasdaq Composite rode a late-session rally to a gain of 0.3%.
The bond market took center stage as yields around the globe jumped, meaning prices fell, in early morning trading. The yield on the 2-year Treasury note was up to 4.032%. The 10-year yield spiked to 4.189%.