U.S. stocks gave back some of last week’s rally, as bitcoin and other former stars of Wall Street fell again.
The S&P 500 lost 0.5 percent Monday, breaking a five-day winning streak. The Dow Jones Industrial Average dropped 0.9 percent, and the Nasdaq composite fell 0.4 percent.
Crypto-related stocks sank to some of the sharpest losses after bitcoin dropped below $86,000. Stock prices also broadly felt pressure from rising yields in the bond market. Treasury yields climbed along with yields worldwide after the head of the Bank of Japan hinted at a hike to interest rates there.
On Monday:
The S&P 500 fell 36.46 points, or 0.5 percent, to 6,812.63.
The Dow Jones Industrial Average fell 427.09 points, or 0.9 percent, to 47,289.33.
The Nasdaq composite fell 89.76 points, or 0.4 percent, to 23,275.92.
The Russell 2000 index of smaller companies fell 31.31 points, or 1.3 percent, to 2,469.13.
For the year:
The S&P 500 is up 931 points, or 15.8 percent.
The Dow is up 4,745.11 points, or 11.2 percent.
The Nasdaq is up 3,965.13 points, or 20.5 percent.
The Russell 2000 is up 238.97 points, or 10.7 percent.
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