Stocks extend slide, Chevron mega-deal, Apple slumps, 2-year auction on deck, Roivant drug sale

Lingering risks of a region-wide conflict in the middle east, alongside an extended surge in Treasury yields, has stocks back in the red in early Monday trading.In the second major oil mega-deal in less than a month, Chevron said Monday it will pay $53 billion for Hess Corporation.

Taiwan based Foxconn, the world's biggest assembler of Apple iPhones, is reportedly in the crosshairs of tax authorities in China.The Treasury will kick-off another $114 billion on bond sales this week with a benchmark 2-year auction later today that will provide a stern test of demand in a weakening market.Roivant, the drug developer founded by Republican Presidential candidate Vivek Ramaswamy, has sold the rights to its bowel disease treatment for $7.1 billion.

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Chevron, Hess, Roivant, Textainer, Microsoft, Alphabet, and More Stock Market MoversChevron will buy Hess in all-stock deal valued at $53 billion, Roche agrees to buy a developer of a drug for people suffering from inflammatory bowel disease...
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Stocks making the biggest moves premarket: Chevron, Apple, Walgreens Boots Alliance and moreThese are the stocks posting the largest moves in premarket trading.
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Oil stocks see broad selloff as Chevron’s buyout of Hess fails to fuel buyingTomi Kilgore is MarketWatch's deputy investing and corporate news editor and is based in New York. You can follow him on Twitter TomiKilgore.
Source: MarketWatch - 🏆 3. / 97 Read more »