US Stocks Drop for a Third Day; Treasuries Rally: Markets Wrap
- Trading volumes were thinner because of the holiday season
- A dollar index is on track for its best year since 2015
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A banner year for US stocks is ending poorly as a retreat in technology stocks extended a stretch of losses that began when the Federal Reserve cooled expectations for interest-rate cuts two weeks ago.
It was the third consecutive decline for both the S&P 500 and the Nasdaq 100, and also the third time the indexes dropped more than 1% in eight sessions. The Bloomberg Dollar Spot Index is on track for its best year since 2015. Treasuries rallied on Monday, with the 10-year yield hovering around 4.54%.