U.S. stocks gave back some of last week’s rally, as bitcoin and other former stars of Wall Street fell again.
The S&P 500 lost 0.5% Monday, breaking a five-day winning streak. The Dow Jones Industrial Average dropped 0.9%, and the Nasdaq composite fell 0.4%.
Crypto-related stocks sank to some of the sharpest losses after bitcoin dropped below $86,000. Stock prices also broadly felt pressure from rising yields in the bond market. Treasury yields climbed along with yields worldwide after the head of the Bank of Japan hinted at a hike to interest rates there.
On Monday:
The S&P 500 fell 36.46 points, or 0.5%, to 6,812.63.
The Dow Jones Industrial Average fell 427.09 points, or 0.9%, to 47,289.33.
The Nasdaq composite fell 89.76 points, or 0.4%, to 23,275.92.
The Russell 2000 index of smaller companies fell 31.31 points, or 1.3%, to 2,469.13.
For the year:
The S&P 500 is up 931 points, or 15.8%.
The Dow is up 4,745.11 points, or 11.2%.
The Nasdaq is up 3,965.13 points, or 20.5%.
The Russell 2000 is up 238.97 points, or 10.7%.
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