The Dow Jones Industrial Average logged a triple-digit drop on Monday, its worst one-day decline since early September, as the yield for benchmark 10-year Treasury note hit the highest level since April 2014 above 2.7%, raising concerns that rising borrowing costs could upend a relentless uptrend for equities. The Dow closed down about 180 points, or 0.7%, at 26,439, the S&P 500 index closed off 0.7% at 2,853, registering its worst daily fall since August, while the Nasdaq Composite Index closed down 0.5% at 7,466. The decline for the blue-chip benchmark was the worst daily slide since Sept. 5, according to FactSet data. Anxiety over a coming State of the Union address from President Donald Trump set for Tuesday, an updated policy statement from the Federal Reserve on Wednesday, a monthly jobs report on Friday and corporate quarterly results throughout the week contributed to investor unease. In corporate news, Dr Pepper Snapple Group Inc. soared 22% after a merger deal with privately held Keurig Green Mountain was announced early Monday. Meanwhile, shares of Wynn Resorts Ltd. finished off 6.5%, adding to losses from Friday, as investors reacted to allegations that founder Steve Wynn has a history of sexual misconduct.
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