Stocks fell Monday, weighed down by a jump in Treasury yields to start the week.
The Dow Jones Industrial Average dropped 347.11 points, or 0.67%, to end at 51,481.51. Boeing shares dragged down the index, closing nearly 7% lower after the Federal Aviation Administration said it wouldn’t certify the aerospace giant’s 737 Max 10 until it assesses a new software glitch.
The S&P 500 slid 0.77% to end at 7,683.69, while the Nasdaq Composite slipped 0.92% to 26,820.38. At their session lows, the Dow was off more than 400 points, while the S&P 500 was down about 1%.
The major averages came off their lows around midday after CNN and Axios reported, citing White House officials, that President Donald Trump was open to providing sanctions relief to Iran on nuclear matters. The reports sent crude prices well off their highs of the day.
Treasury yields, however, built on last week’s sharp moves. The benchmark 10-year Treasury note yield climbed above 5.2%. The 30-year bond yield topped 5.5%. Both traded around multiyear highs.
Those yields have “come back up meaningfully today, and that’s causing an understandable weakness in the tape,” Justin Bergner, portfolio manager at Gabelli Funds, told CNBC. “The competition for capital with AI hyperscaler spending … also pressures the consumer with higher rates, so it kind of makes the market more one-sided than it already is.”
Several AI stocks led the major indexes lower on Monday. Advanced Micro Devices and Micron Technology fell 3.6% and 2.6% on the day, respectively. Amazon and Microsoft also edged down 1%, while Meta Platforms shed 4.8%.
However, Nvidia bucked the trend in hyperscaler and other AI stocks. The stock popped 1.7% after the company announced on Monday it plans to buy back an additional $150 billion worth of its shares, bringing the total value of its share repurchasing program to $235 billion.
Wall Street is coming off a winning week after tech and tech-linked names outperformed. Meta rallied nearly 13% in that time, as traders cheered the company’s Muse artificial intelligence agent. Microsoft climbed more than 4%, while Apple and Nvidia advanced more than 1% each.
Source: https://www.cnbc.com/2026/09/27/stock-market-today-live-updates.html