Nasdaq Logs Triple-Digit Loss As Treasury Yields Rise
Rising bond yields weighed on Wall Street to kick off a week jam-packed with quarterly reports. Investors moved to take profits after the 10-year Treasury yield hit is highest level in nearly a month ahead of a highly anticipated Federal Reserve speech before the Economic Club of Washington tomorrow. The Dow and S&P 500 both settled lower for the session, and the Nasdaq shed triple digits.
OIL, GOLD PRICES STAGE MODEST REBOUNDS
Oil prices recovered some of last week's losses, settling higher after Saudi Arabia lifted most crude prices that will be shipped to Asia in March in a surprise move. March-dated crude added 72 cents, or 1%, to settle at $74.11 per barrel.
After hitting its lowest level in three weeks in the previous session, gold futures scored a small win today. April-dated gold rose $2.90, or 0.2%, to settle at $1,879.50 per ounce.
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