Stocks Ended Firmly Lower on Rising Yields

U.S. stocks ended firmly lower on Monday as the yield for benchmark 10-year Treasury note hit the highest level since April 2014, raising concerns that rising borrowing costs could upend a relentless uptrend for equities. The Dow Jones Industrial Average fell 177.23 points, or 0.67%, to 26,439.48. The S&P 500 lost 19.34 points, or 0.67%, to 2,853.53. The Nasdaq Composite dropped 39.27 points, or 0.52%, to 7,466.51.

Oil futures finished lower Monday, as a weekly increase in the number of rigs drilling for oil in the U.S. fed expectations for a continued rise in domestic production. March West Texas Intermediate crude fell 58 cents, or 0.9%, to settle at $65.56 a barrel. March Brent crude lost $1.06, or 1.5%, to$69.46 a barrel.