Dow Drops 248 Points For 6th-Straight Daily Loss

Stocks reversed their earlier gains to extend last week's sharp weekly losses. The blue-chip benchmark dropped triple digits for its sixth-straight daily loss, with help from's (CRM) 7.3% loss, while the Nasdaq shed 290 points for its largest net loss since February. The S&P 500 finished firmly in the red as well, while Wall Street's "fear gauge" -- the Cboe Volatility Index (VIX) -- saw its highest close since October. 

Rising U.S. Treasury yields weighed on the market after this morning's upbeat retail sales data, overshadowing strong earnings from Goldman Sachs (GS). Digging deeper, the 10-year note rose above the key 4.6% level to hit its highest point since November. 






Oil prices slid today, though investors are still monitoring the conflict in the Middle East. May-dated West Texas Intermediate (WTI) fell 25 cents, or 0.3%, to settle at $85.41 a barrel. 

Gold prices rose once again, despite strength in the U.S. dollar and rising bond yields. June-dated gold futures settled 0.4% higher at $2,383 per ounce.

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