The Dow Jones Industrial Average fell 150 points Monday as shares of Dow component Boeing (BA) fell following the grounding of its 737 Max 9 planes. Meanwhile, Nvidia stock is breaking out today, breaking through a fresh purchase target and setting a new high.
The Dow Jones Industrial Average fell 0.4% after the opening bell, while the S&P 500 gained 0.35%. In early trading, the Nasdaq composite jumped 1%.
The Nasdaq 100 tracker Invesco QQQ Trust (QQQ) rose 1% among US exchange traded funds, while the SPDR S&P 500 ETF (SPY) rose 0.3%.
The 10-year Treasury yield increased to 4.05% on Monday after closing at 4.04% on Friday, its highest finish since December 12. Also, following last week’s gains, oil prices tumbled, with West Texas Intermediate futures down more than 3% Monday morning. WTI futures fell below $72 per barrel.Boeing fell 8% on Monday morning after the Federal Aviation Administration ordered the 737 Max 9 jet to be temporarily grounded over the weekend. A door was ripped off the side of an Alaska Airlines 737 in mid-flight on Friday.