- US stocks fell on Monday as investors worried about an escalation of the Israel-Iran conflict.
- The risk-off nature of Monday's market action sent the 10-Year Treasury yield to its highest level of 2024.
- March retail sales data surged 0.7%, more than double consensus estimates of 0.3%.
US stocks reversed their Monday morning gains and finished the day considerably lower as investors worried about a potential escalation of the Israel-Iran conflict.
Iran fired hundreds of missiles and drones at Israel, but its defense system, in coordination with its allies, $4
"Iranian officials have said that this concludes the response and markets are hoping that the situation will de-escalate from here. However, this situation is by no means over and the back-and-forth headlines have continued throughout the day," NYSE market strategist Michael Reinking said.
A source $4 that a retaliatory attack by Israel against Iran could be "imminent." Allies of Israel have cautioned the country from further escalating the conflict.
Separately, retail sales surged in March, growing 0.7%, more than double consensus estimates of 0.3%. The combination of solid retail sales data and the risk-off nature of the Israel-Iran conflict sent the 10-year Treasury yield to its highest level of 2024 and its highest level since November.
Here's where US indexes stood at the 4 p.m. closing bell on Monday:
- S&P 500>$4: 5,061.82, down 1.2%
- Dow Jones Industrial Average>$4: 37,735.11, down 0.7% (-248 points)
- Nasdaq Composite>$4: 15,885.02, down 1.8%
Here's what else happened today:
- $4 if the Fed cuts interest rates too soon, expert says.
- $4 after the company filed with the SEC to sell millions of shares.
- Goldman Sachs reported its highest quarterly profit since 2021. $4
- $4
- $4 reducing its workforce by about 14,000 employees as the company deals with weak EV demand.
In commodities, bonds, and crypto: