05.10.202613:42:20UTC+00US Stocks Mixed as Treasury Yields Stay Elevated

US equities were mixed on Monday as investors stayed cautious ahead of this week’s Federal Reserve policy meeting. The S&P 500 rose 0.2%, and the Nasdaq-100 added 0.3%, while the Dow Jones Industrial Average fell by more than 100 points.

Persistent strength in Treasury yields remained a central concern. The 10-year yield climbed to its highest level in more than two decades, sharpening worries that elevated borrowing costs could weigh on equity valuations.

Moves in individual technology stocks also attracted attention. Intel declined nearly 2% after reports that Taiwan Semiconductor Manufacturing Co. may be in talks about a potential collaboration with Elon Musk’s Terafab initiative, which Intel joined in April.

By contrast, Cerebras Systems rallied after OpenAI CEO Sam Altman characterized the company as a close partner and underscored their joint work on high-speed computing.