Stocks sold off Friday as the yield curve inverted and amid weak economic data. The yield curve remained slightly inverted Monday, a signal of a potential recession, with the 3-month Treasury bill yield at 2.454% while the 10-year note yield was at 2.409% late Monday. The Dow Jones Industrial Average rose 0.06%, while the S&P 500 fell 0.08% and Nasdaq Composite Index slipped 0.07%.
The market was supported by the results of Special Counsel Robert Mueller's report on Russian intervention in the 2016 presidential campaign. Attorney General William Barr, in a letter to lawmakers on Sunday, said that the special counsel found no evidence of a conspiracy between President Donald Trump or his campaign with Russia to help him in the run-up to the 2016 election.
Asian markets tumbled ahead of US trading, following the lead of the sell-off in US and European markets on Friday. The Nikkei 225 fell 3%, while the Hang Seng Index and Shanghai Composite Index both fell 2%.
Economic news was light Monday. On Tuesday, investors will get a look at some housing data, including housing starts, along with data on consumer confidence.
Dow Jones Industrial Average was up 14.51 points (+0.06%)
S&P 500 was down 2.35 points (-0.08%)
Nasdaq Composite Index was down 5.13 points (-0.07%)
FTSE 100 was down 30.01 points (-0.42%) to 7,177.58
Hang Seng Index was down 590.01 points (-2.03%) to 28,523.35
Shanghai China Composite Index was down 61.12 points (-1.97%) to 3,043.03
(+) VIAB (+3.87%) Reaches carriage deal with AT&T (T)
(+) AVYA (+32.55%) Mulls leveraged buyout deal from private equity firm, Reuters reports
(+) YRD (+15.72%) Enters realignment deal with controlling shareholder
(-) PTI (-67.81%) Reports results from phase 1 trial of cystic fibrosis transmembrane conductance regulator modulators
(-) TSLA (-1.55%) Industry data shows registrations of new Tesla vehicles dropped month-over-month in February
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