Here are three notes on the drop.
1. U.S. stocks recorded their biggest drop of 2018 after record gains on Friday. Stocks fell after the 10-year treasury yield jumped, fueling concerns about how higher interest rates could affect the market.
2. The S&P 500 fell 0.7 percent, closing at 2,853.53 Monday. This reflected S&P 500’s fifth down day of the year, and its largest. The Dow closed at 26,439.48. The Nasdaq composite decreased 0.5 percent, closing at 7,466.51, CNBC reports.
3. Peter Oppenheimer, chief global equity strategist at Goldman Sachs, told the publication there is a “high probability” the stock market will correct itself in coming months. Mr. Oppenheimer is advising clients to prep for a pullback.
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