Stock Market Today: Tech Throttled as Treasury Yields Continue Climb
Nosebleed valuations in the technology sector cooled off Monday amid a brutal day for Nasdaq longs. The Dow, meanwhile, clawed out modest gains.


How'd the stock market do today? The answer's a little complicated, and heavily depends on which major blue-chip index you hitch your wagon to.
The S&P 500 closed with a 0.8% loss to 3,876, while the tech-heavy Nasdaq Composite slumped for a fifth consecutive day, by 2.5% to 13,533 … but the Dow Jones Industrial Average managed to claw out a 0.1% gain, to 31,521.
It's a continuation of a trend that has emerged over the past couple of weeks amid a sharp rise in interest rates; higher rates on bonds can weigh on the appeal of stocks broadly, but specifically on the growthy but extremely expensive tech sector, where costlier borrowing will trim margins. Apple (AAPL) declined 3.0%. Tesla (TSLA) plunged 8.6%.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.

Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
On the flip side, financial stocks continued to jump, as higher rates help banks and insurers pad their bottom line. Monday's best performances came from the energy sector, however, as Texas's recent weather woes are expected to hinder oil and gas supplies for weeks. U.S. crude oil futures jumped 3.8% to $61.49 per barrel, lifting stocks such as Exxon Mobil (XOM, +3.7%) and Chevron (CVX, +2.7%).
Other action in the stock market today:
- The small-cap Russell 2000 finished 0.7% lower, to 2,251.
- Gold futures rallied 1.7% to finish the day at $1,808.40 per ounce.
- Bitcoin prices swung quite a bit. After finishing at $55,371 on Friday afternoon, they briefly eclipsed $58,000 this weekend before peeling back. Prices then dipped to as low as $50,623 in Monday trading before finishing at $54,009. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m. each trading day.)
More New Stocks Are on the Way
While investors may have lost some appetite for expensive tech stocks, they're clearly still hungry for the novel and new. 2021 has seen voracious demand for initial public offerings (IPOs), including Bumble (BMBL), Affirm (AFRM) and Petco (WOOF) – and more are on the way.
In the past few days, several high-profile companies have thrown their hats into the ring by filing S-1s with the SEC, including Coupang (South Korea's second-largest online retailer) and crafts retailer Jo-Ann Stores.
If you're curious about these and other potential offerings on the 2021 horizon, check out our frequently updated list of the year's hottest upcoming IPOs. Several of the companies on our original watch list have already gone public; currently, we're looking at a dozen companies that should pull off IPOs by year's end. We break down each company: what they do, when they're expected to offer up shares, and how much each company will be valued at.
Kyle Woodley was long Bitcoin as of this writing.
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
Kyle Woodley is the Editor-in-Chief of WealthUp, a site dedicated to improving the personal finances and financial literacy of people of all ages. He also writes the weekly The Weekend Tea newsletter, which covers both news and analysis about spending, saving, investing, the economy and more.
Kyle was previously the Senior Investing Editor for Kiplinger.com, and the Managing Editor for InvestorPlace.com before that. His work has appeared in several outlets, including Yahoo! Finance, MSN Money, Barchart, The Globe & Mail and the Nasdaq. He also has appeared as a guest on Fox Business Network and Money Radio, among other shows and podcasts, and he has been quoted in several outlets, including MarketWatch, Vice and Univision. He is a proud graduate of The Ohio State University, where he earned a BA in journalism.
You can check out his thoughts on the markets (and more) at @KyleWoodley.
-
Here's Why I'm Upgrading to the iPhone 17
The iPhone 17 is here. Learn what's new, where the best deals are and whether it's worth the switch.
-
September Fed Meeting: Live Updates and Commentary
The September Fed meeting is a key economic event, with Wall Street keyed into what Fed Chair Powell & Co. will do about interest rates.
-
S&P 500 Hits New High After Oracle Earnings: Stock Market Today
Another down day for Apple held the Dow Jones Industrial Average back, though.
-
Stocks Grind Up to New All-Time Highs: Stock Market Today
UnitedHealth stock led the Dow Jones Industrial Average amid increasing signs the labor market has not been well for months.
-
Markets Prepare for August Inflation Data: Stock Market Today
Apple CEO Tim Cook is still important, but price action this week is as much about incoming inflation data ahead of next week's Fed meeting.
-
Stocks Slip as Job Growth Stalls: Stock Market Today
The August jobs report came in much weaker than expected, while the unemployment rate ticked higher.
-
Big Tech Names Rise Above Broad Weakness: Stock Market Today
Some familiar names enjoyed solid rallies on the resolution of outstanding questions, but macro uncertainty hangs over the broader market.
-
If You'd Put $1,000 Into Sherwin-Williams Stock 20 Years Ago, Here's What You'd Have Today
Sherwin-Williams stock has clobbered the broader market by a wide margin for a long time.
-
If You'd Put $1,000 Into UnitedHealth Group Stock 20 Years Ago, Here's What You'd Have Today
UNH stock was a massive market beater for ages — until it wasn't.
-
Tech Sells Off While Trump Stirs the Fed: Stock Market Today
We've reached another important part of earnings season, though markets remain captivated by the president, the Fed, and interest rate policy.