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As Traders Begin the Final Trading Week of September, Stocks Decline on Monday

The market is expected to start the final week of trading in September with significant losses after stocks slumped on Monday.

111 points, or 0.3%, were lost by the Dow Jones Industrial Average. The Nasdaq Composite dropped 0.2% and the S&P 500 dipped 0.2%.

This month, stocks have struggled as bond yields increased as a result of the Federal Reserve’s indication that interest rates may stay higher for longer. This month, the benchmark 10-year Treasury yield increased by more than 30 basis points to 4.43%. During the typically slow trading month, the market also had to battle with a surge in crude oil prices and a winning streak for the dollar.

The S&P 500 is on course to have its worst month since December after falling more than 4% in September. This will be the index’s second straight losing month. The growth companies took the brunt of the sell-off, sending the tech-heavy Nasdaq Composite down 6% in September. The index is also on track to post its largest monthly loss since December. This month, the blue-chip Dow is down 2% less than usual.

Source (CNBC)

SourceCNBC
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