Dow Jones sheds 350 points at close as treasury yields surge

Most US stock indices declined at the close of Oct. 21 trading, weighed down by rising treasury bond yields as investors evaluated the economic outlook and monetary policy, while anticipating key corporate earnings reports set to be released this week.

At the close of trading, the Dow Jones Industrial Average fell by 0.80%, losing 344 points to settle at 42,931, after reaching a record high last week.

The S&P 500 also declined by 0.20%, dropping 10 points to 5,854, following its own record-setting performance last week. In contrast, the Nasdaq Composite Index gained 0.25%, adding 50 points to close at 18,540.

In European markets, the Stoxx Europe 600 index dropped by 0.65% to 521.52, with most sectors posting declines, led by insurance stocks, which fell by more than 1%.

The FTSE 100 in the UK slid by 0.50% to 8,318 points, while Germany's DAX decreased by 1% to 19,456, and France's CAC 40 slipped by 1% to 7,536.

In Japan, the Nikkei held steady at 38,954 points, while the broader Topix index edged down by 0.25% to 2,679.

In the oil market, the Brent crude futures for December delivery prices increased by 1.70% or $1.23 to $74.29 a barrel upon settlement.

The US NYMEX futures for November delivery rose 1.95% or $1.34 to $70.56 a barrel.

As for gold, the prices of the precious metal futures for December delivery inched up by 0.3% or $8.9 to $2738.9 an ounce, closing at a new record.

During Monday's trading, the 10-year US Treasury bonds rose to their highest levels in about three months, with investors evaluating the possibilities of higher inflation and obstructing the federal path to reduce interest.