U.S. stocks dropped at the start of the week as the 10-year Treasury yield briefly hit 5% and oil prices rose, according to CNBC. The Nasdaq fell about 1% as AI-related names came under pressure.
Key facts
- The 10-year Treasury yield briefly touched 5%, according to CNBC.
- Oil prices rose, according to CNBC.
- The Nasdaq fell about 1% as AI names slid, according to CNBC.
- The S&P 500 fell on Monday, according to CNBC.
- The three major averages were coming off a losing week, according to CNBC.
- Investors were monitoring a major shakeup in the pipeline for artificial intelligence initial public offerings, according to CNBC.
U.S. stocks fell to begin the week as the 10-year Treasury yield briefly touched 5% and oil prices rose, according to CNBC. The move added to pressure on major averages already coming off a losing week.
The benchmark 10-year Treasury yield briefly touched 5% during the session, CNBC reported. Oil prices also rose, according to CNBC’s live updates.
The Nasdaq fell roughly 1% as artificial intelligence names slid, CNBC reported. The S&P 500 also declined on Monday.
CNBC said investors were monitoring a major shakeup in the pipeline for artificial intelligence initial public offerings.
The declines came as the three major averages were already coming off a losing week, according to CNBC.
Why it matters
The 10-year Treasury yield reaching 5% and rising oil prices are closely watched market indicators, while the decline in AI-related shares comes as those stocks remain among the most followed in the market, according to CNBC.
Frequently asked questions
What happened to the 10-year Treasury yield?
According to CNBC, the 10-year Treasury yield briefly touched 5% during the session.
Why did the Nasdaq fall?
CNBC reported the Nasdaq fell about 1% as AI names slid, with investors monitoring a major shakeup in the pipeline for artificial intelligence IPOs.
How did the broader market perform?
The S&P 500 fell on Monday, and CNBC noted the three major averages were coming off a losing week.