Stock Market today: Dow slides on geopolitical tensions, spike in Treasury yields

Investing.com -- The Dow slumped Monday, pressured by a spike in Treasury yields as geopolitical tensions and stronger-than-expected retail sales data dented expectations for interest rate cuts and overshadowed strong earnings from banking giant Goldman Sachs.Treasury yields continued to add to recent gains after retail sales grew faster than expected last month, indicating strength in the consumer, which drives the bulk of U.S.

"A third straight quarter of GDP growth over 3% should be the nail in the coffin for anyone expecting rate cuts any time soon," Jefferies said in a note.) was one of the few bright spots on the day, closed nearly 3% higher after reporting a jump in Q1 profit, fueled by a recovery in underwriting, deals and bond trading in the first quarter that lifted its earnings per share to the highest since late 2021.

But Deutsche Bank initiated coverage at buy with a $50 price target, saying Reddit has "significant opportunity to grow high-margin data licensing revenue, particularly with the Bulk Data product aimed at the large LLM players"Geopolitical tensions also gripped markets as Israel is reportedly weighing up an imminent response to an attack from Iran over the weekend, NBC reported Monday, citing an unnamed Israeli official.

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