U.S. markets ended lower on Monday as oil prices and Treasury yields increased, with investors weighing uncertainty over the prospects for an Iran war peace deal and the impact on the Federal Reserve's rate path. Traders also awaited US economic data, including the September consumer confidence reading and the August job openings and labour turnover survey, which could influence expectations around the Federal Reserve's interest-rate path and Treasury yields. On the sectoral front, gold stocks moved sharply lower along with the price of the precious metal, with the NYSE Arca Gold Bugs Index plummeting by 5.2 percent to its lowest closing level in well over a month. The jump in treasury yields also contributed to considerable weakness among interest rate-sensitive telecom stocks, as reflected by the 1.8 percent loss posted by the NYSE Arca North American Telecom Index. Semiconductor, banking and oil service stocks also saw notable weakness, moving lower along with most of the other major sectors.
Nasdaq fell by 248.33 points or 0.92 percent to 26,820.38, S&P 500 decreased by 59.72 points or 0.77 percent to 7,683.69, and Dow Jones Industrial Average slipped by 347.11 points or 0.67 percent to 51,481.51.
