Stocks close lower Monday as higher rates rattle investors

The markets were somewhat cautious on Monday, as U.S. stocks fell downward by the tech-heavy Nasdaq Composite, this as investors are increasingly growing cautious of rising bond yields. Meanwhile, Bitcoin continues to struggle near the $23,000 trading line. The following is from CNBC:

U.S. stocks fell Monday, led downward by the tech-heavy Nasdaq Composite, as investors grew increasingly cautious of rising bond yields.

The Dow Jones Industrial Average lost 34.99 points, or 0.1%, to end at 33,891.02. The 30-stock index made up some ground after losing more than 240 points earlier in the session.

The S&P 500 slid 25.40 points, or 0.61%, to close at 4,111.08. The Nasdaq Composite posted the biggest loss of the three, sliding 1%, or 119.50 points, to end at 11,887.45.

Investors were taking some profits after the stock market’s hot start to the year. The S&P 500 is up more than 7% for 2023, while the Nasdaq Composite has advanced for the last five weeks, a streak not seen since November 2021.