Dow Drops Nearly 400 as Oil and Interest Rates Weigh

Stocks struggled Monday as rising oil prices and higher Treasury yields weighed on market sentiment.

The Dow Jones Industrials plunged 398.51 points to 41,954.24.

The S&P 500 index swooned 55.13 points, or 1%, to 5,695.94.

The NASDAQ Composite skidded 213.95 points to 17,923.90.

Monday’s moves come after a bumpy week for stocks that saw the major averages grind out modest gains. The S&P 500 added 0.2% for the week, while the NASDAQ Composite inched up 0.1% and the Dow added 0.1%.

Earnings season heating up, with results from Delta Air Lines on Thursday, and JPMorgan Chase on Friday. Meanwhile, shares in Delta headed higher 19 cents to $49.47, while Morgan shares retreated 28 cents to $210.93.

On the economic front, key releases in the week ahead include the Federal Reserve meeting minutes on Wednesday and the consumer price index report on Thursday.

Prices for the 10-year Treasury dropped, making yields soar to 4.02% from Friday’s 3.97%. Treasury prices and yields move in opposite directions.

Oil prices improved $2.93 to $77.31 U.S. a barrel.

Gold prices stumbled $5.20 to $2,602.60 U.S. an ounce



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