The S&P 500 Index ($SPX) (SPY) on Monday closed down by -0.53%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down by -0.90%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down by -0.36%. December E-mini S&P futures (ESZ25) fell -0.50%, and December E-mini Nasdaq futures (NQZ25) fell -0.36%.
Stock indexes settled lower on Monday as higher bond yields sparked risk-off sentiment in asset markets. The 10-year T-note yield rose +8 bp to 4.09% as a rout in Japanese government bonds rippled through global bond markets. The 10-year Japanese bond yields to a 17-year high of 1.88% on Monday after Bank of Japan (BOJ) Governor Ueda offered his clearest signal yet that the BOJ could raise interest rates again at this month’s BOJ meeting. Bitcoin tumbled more than -5% Monday to a 1-week low, further weighing on market sentiment. Strength in energy producers on Monday was a positive factor for stocks, with WTI crude climbing more than 1% to a 1-week high.
