NYSE Traders working during the opening bell.JOHANNES EISELE/AFP via Getty ImagesThe tech sector dragged US stocks lower on Monday, with major indexes down about 1%.The extended decline in the Nasdaq 100 and S&P 500 can be linked to rising bond yields over the past few weeks.Investors are keeping an eye on key economic data during this shortened trading week, including ISM manufacturing data.US stocks finished lower on Monday, with the tech sector leading the decline heading into year-end.Stocks were down nearly 2% at their lowest point on Monday, but some buying pressure alleviated the pain and the major indexes finished the day down by about 1%.The Nasdaq 100 has extended its decline since mid-December to nearly 5% amid a sharp rise in bond yields, while the S&P 500 has dropped by about 3% over the same time period.Yields edged lower on Monday, with the 10-year Treasury yield down eight basis points to 4.546%.
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mfox@businessinsider.com (Matthew Fox), Business Insider
Mon, 12/30/2024 - 2:12pm
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