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business22h ago
US stocks drift lower and threaten to break Wall Street's 5-day winning streak
- U.S. stocks slipped on Monday, ending Wall Street’s five-day winning streak as the S&P 500 fell 0.4%.
- Dow Jones Industrial Average dropped about 204 points, while the Nasdaq also declined.
- Crypto stocks and bitcoin weakened as yields rose and investors reassessed risk assets.
- Bitcoin tumbled, pressure spreading to equities tied to crypto companies.
- Strategy (MicroStrategy) raised funds to support dividends and debt, contributing to stock declines.
- Nvidia advanced amid a $2 billion investment as partnerships expand.
- European and Asian markets showed mixed moves as bond yields rose globally.
- Bond yields rose, with the 10-year Treasury climbing beyond 4% intraday.
- ISM reports ongoing manufacturing softness despite overall job market concerns.
- Investors eye the holiday shopping season for potential economic signals.
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