Dow Jones Falls 0.7% Amid Tech Stock Declines and US-Iran Tensions

The Dow Jones Industrial Average (.DJI) closed at 53,185.90 on Monday, down 374.09 points or 0.7% from the previous close.

The decline was led by tech stocks, with Amazon (AMZN.US), Alphabet (GOOGL.US), and Marvell Technology (MRVL.US) falling 2.5%, 2.1%, and 2.3% respectively.

The losses were partly due to the US government suing Amazon over alleged manipulation of advertising prices, as well as declining quarterly results from Marvell.

Additionally, fresh US-Iran airstrikes sent oil prices rising, contributing to higher long-dated US Treasury yields and a weaker yen.