The New York Stock Exchange has traders on it.
Spencer Platt is a photographer.
The S&P 500 lost ground for a fifth day, while the Nasdaq gained a small amount.
Ahead of inflation data this week that could underscore concerns the Federal Reserve will move aggressively to fight hot inflation, the 10-year Treasury yield surpassed 1.8% for the first time since January 2020. Early Monday, that sliced into tech stocks before they recovered.
Greg Bassuk, CEO of AXS Investments, said in a note to Insider on Monday that investors are reacting to the heightened reality of a likely four-time interest rate hike this year.
The US indexes were at 4:00 p.m. on Monday.
The central bank is expected to raise interest rates four times in the next five years.
The consumer price inflation report is due on Wednesday and it could be over 7%, the highest rate since 1982.
The producer price index will be released on Thursday and investors will be focused on the extent to which those wholesale prices continued to rise in December," said Bassuk.
The quant guru at JP Morgan says investors should buy the dip in stocks as markets can hold up. Morgan Stanley's equity strategists say the market is set for defensive stocks to take a leadership role.
The price of oil fell. The price of West Texas Intermediate crude fell. The international benchmark lost 0.8%.
The price of gold increased to $1,800.10 per ounce. The 10-year yield increased by 1 basis point.
The price of the digital currency declined to $41,514.36.
Business Insider has an original article.
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