All three major U.S. stock indexes were in the process of giving up their gains in Monday’s final hour of trading, and may be headed for their fifth straight session of losses. Dow industrials were down by 76 points, or 0.
2%, after swinging between gains and losses during the New York session. Meanwhile, the S&P 500 and Nasdaq Composite were each marginally lower. Stocks struggled for better momentum as long-dated Treasury yields rose to fresh multi-year highs and investors factored in a greater likelihood of higher-for-longer interest rates in the U.S. and Europe.
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