Highlights
Rising bond yields and oil prices undercut stocks again on Monday. The Dow Jones industrial average lost 0.7 percent while the broader S&P 500 fell 0.8 and the Nasdaq was off 1.0 percent. US Treasury yields, the dollar and oil prices all rose.
Stocks suffered from the open on the latest advance in oil prices which sent bond yields higher. That followed headlines underscoring the view that diplomacy is not likely to reopen the Strait of Hormuz soon. But bond yields and oil prices retreated from their highs later in the day and stocks recovered ground on a report that President Trump had expressed willingness to ease sanctions on Iran as part of a deal limiting Iran's nuclear program.
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