The S&P 500 closed Monday at roughly 7,586.84 points, down about 0.43%, marking its lowest closing level in six weeks. The Nasdaq also fell, erasing most of the summer’s gains. Brent crude surpassed $109 per barrel, gaining roughly 3%, while the 10-year US Treasury yield approached 5%, a level not seen since 2007. Producer inflation data that came in hotter than expected revived fears of another Federal Reserve rate hike, particularly hurting technology and growth sectors, which are most sensitive to interest rate changes.
Source: Read the original article
