Treasury yields drag stocks down; housing data and earnings in focus

cnbc.com —

Treasury yields rose again on Monday, dragging major stock averages down to start the week, with the Dow Industrials falling more than 300 points. Investors are watching housing data, as the S&P Case-Shiller Home Price Indices are set for release Tuesday morning. Homebuilder stocks have fallen sharply from recent highs, and the 30-year fixed mortgage rate is around 7.5%. Other market movers include earnings from Carnival and CarMax, plus a growth strategy announcement from Alaska Air's CEO. These developments come amid ongoing pressure from higher borrowing costs.


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