Welcome to Markets Desk, here's where things stand heading into the close.
Equities sold off broadly on Monday as rising bond yields pressured risk appetite across the board. The S&P five hundred dropped nearly eight tenths of a percent, the Nasdaq one hundred fell just over one percent, and the Dow shed roughly two thirds of a point. Treasury pressure was the dominant driver, pulling valuations down in a fairly orderly but persistent fashion throughout the session.
Shifting to the grain pits, wheat posted meaningful losses across all three exchanges. Chicago soft red winter fell as much as nearly fifteen cents, Kansas City hard red winter dropped up to nearly seventeen cents, and Minneapolis spring wheat shed nearly twelve cents at the worst levels. The selling was broad-based and reflected continued pressure on the complex heading into the week.
And on the trade front, a story worth watching closely — China and the United States agreed to reduce tariffs on roughly thirty billion dollars worth of goods in each direction, but Beijing deliberately excluded commodity soybeans from the deal. That omission is pointed. Soybeans are a cornerstone of American agricultural exports, and leaving them off the list hands China quiet but significant leverage over American farm country.
That's the tape. Markets Desk, signing off the floor.
