By Johann M Cherian and Sukriti Gupta
January 13, 2025 – 7:16 AM PST
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(Reuters) – U.S. stocks dropped on Monday, with the benchmark S&P 500 at a two-month low as bond yields surged after robust payroll numbers last week, boosting expectations that the Federal Reserve will maintain a hawkish stance for most of this year.
At 09:50 a.m. the Dow Jones Industrial Average (.DJI) rose 105.06 points, or 0.25%, to 42,043.51, the S&P 500 (.SPX) lost 40.79 points, or 0.70%, to 5,786.25, and the Nasdaq Composite (.IXIC) lost 274.13 points, or 1.43%, to 18,887.50.
Wall Street’s fear gauge (.VIX) rose 1.60 points to hit a more than three-week high.
The domestically sensitive Russell 2000 index (.RUT) declined 1% to its lowest since September 2024,…
