U.S. Stocks Close Monday Down

(MENAFN) US equities tumbled Monday as investors grappled with disappointing manufacturing figures and surging Treasury yields, shifting attention toward critical domestic economic releases scheduled for the coming days.

The Dow Jones Industrial Average plummeted 427.09 points, shedding 0.90% to settle at 47,289.33 in a broad-based selloff.

The tech-heavy Nasdaq declined 89.76 points, or 0.38%, finishing at 23,275.92, while the S&P 500 dropped 36.46 points—a 0.53% loss—to close at 6,812.63.

Market anxiety intensified as the Volatility Index (VIX)—Wall Street's "fear index"—jumped 5.44% to reach 17.24, signaling heightened investor nervousness.

The US Manufacturing Purchasing Managers' Index (PMI) delivered a harsh blow, plunging to 48.2 in November—below analyst forecasts and marking the sector's ninth consecutive month of contraction. The reading represented the weakest manufacturing activity since July.

Treasury markets witnessed sharp selloffs after Bank of Japan (BOJ) Governor Kazuo Ueda indicated policymakers would assess a potential interest rate increase in December. US 10-year Treasury yields climbed to 4.1%, propelled by deteriorating Japanese and European sovereign debt markets.

Cryptocurrency markets suffered dramatic losses following China's renewed warnings regarding digital assets. Bitcoin, the dominant cryptocurrency by market value, crashed more than 6% over 24 hours to approximately $86,000.

In corporate developments, shares of Synopsys surged 4.9% after US chipmaker Nvidia unveiled a $2 billion investment in the semiconductor design software provider.

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