Dow Jones closes 190 points lower, S&P 500 books longest losing streak of 2023

U.S. stocks closed mostly lower on Monday in a choppy session that saw the 10-year Treasury yield briefly top 5% for the first time since in 16 years. The S&P 500 index
SPX,
-0.17%
ended about 7 points lower, or 0.2%, near 4,216, after flipping between modest gains and losses. That was the equity-market gauge’s fifth straight session of losses, its longest stretch of declines since Dec. 7, 2022, according to Dow Jones Market Data. The Dow Jones Industrial Average
DJIA,
-0.58%
shed about 191 points, or 0.6%, finishing near 32,936, while the Nasdaq Composite Index
COMP,
+0.27%
rose 0.3%, after earlier trading below 12,922.216, the closing level needed to solidify a finish in correction territory, according to Dow Jones Market Data. A correction is widely viewed as being set when an equity index closes at least 10% below its prior peak. The 10-year Treasury yield fell 8.8 basis points to 4.836%, after briefly punching above 5% earlier in the session. Earnings remain a key focus among investors, with Microsoft Inc.
MSFT,
+0.81%
and other powerful tech giants
GOOG,
+0.85%

META,
+1.74%

AMZN,
+1.11%
set to report third-quarter earnings this week.