Stocks slipped on Monday as Wall Street struggled to keep the momentum from Friday’s rally amid headwinds from rising rates and higher oil prices.
The Dow Jones Industrials plunged 206.97 points to 42,145.78.
The S&P 500 index dipped 19.86 points to 5,731.21.
The NASDAQ Composite skidded 63.94 points to 18,073.91.
Earnings season heating up, with results from Delta Air Lines on Thursday, and JPMorgan Chase on Friday. Meanwhile, shares in Delta eked higher four cents to $49.31, while Morgan shares retreated 17 cents to $211.04.
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 4.03% from Friday’s 3.97%. Treasury prices and yields move in opposite directions.
Oil prices improved $2.56 to $76.94 U.S. a barrel.
Gold prices reversed course and gained $1.50 to $2,609.30 U.S. an ounce
