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April 16, 2024

Wall Street slumps as yields crank up

By STAN CHOE
AP Business Writer

NEW YORK — U.S. stocks slumped Monday after higher yields in the bond market caused by a strong U.S. economy cranked up the pressure on Wall Street.

The S&P 500 tumbled 1.2%, following up on its 1.6% loss from last week, which was its worst since October. The Dow Jones Industrial Average dropped 248 points, or 0.7%, and the Nasdaq composite slumped 1.8%.


 
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