The Dow Jones Industrial Average fell 1.5%, the S&P 500 dropped 1.8% to 4,577.11, and the Nasdaq Composite was down 2.6% to start the short trading week.
Meanwhile, Treasury yields posted strong gains. The closely watched 2-year yield broke above 1% for the first time since February 2020 and rates rose along the yield curve, with the benchmark 10-year note topping 1.87%, its highest since January 2020.
