Stocks fluctuate as bond yields retreat from 16-year peak

Stocks closed mixed on Monday as the Dow Jones Industrial Average fell 0.6% and the S&P 500 dropped nearly 0.2%, while the Nasdaq Composite rose about 0.3%. The benchmark 10-year Treasury yield briefly rose above 5% before retreating, signaling investors' acceptance of higher interest rates. The ongoing sell-off in bonds and concerns about Middle East hostilities weighed on the market, which is awaiting earnings reports from Big Tech companies. Investors are also bracing for key economic data later in the week. In deal news, Chevron announced its acquisition of Hess for $53 billion, while Roche agreed to pay $7.1 billion for Telavant.