Dow33962.04-725.81(-2.09%)Nasdaq14274.98-152.25(-1.06%)SP 5004258.49-68.67(-1.59%)10-yr Note +7/321.225NYSEAdv 491 Dec 2805 Vol 1.1 blnNasdaqAdv 1278 Dec 3090 Vol 4.4 bln Industry Watch Strong: Consumer StaplesWeak: Energy, Financials, Industrials, Materials Moving the Market -- Growth concerns and weak price action fueled de-risking efforts -- 10-yr yield drops 12 basis points to 1.18% and oil prices fall 7%, while hedging premium spiked as much as 36%-- S&P 500 manages to close above 50-day moving average (4240) Stocks, Treasury yields, and oil prices drop to start the weekDow -725.81 at 33962.04, Nasdaq -152.25 at 14274.98, S&P -68.67 at 4258.49 [BRIEFING.COM] The stock market declined sharply on Monday with index losses ranging between 1.1% (Nasdaq Composite) and 2.1% (Dow Jones Industrial Average), as risk sentiment remained pressured by growth concerns. The Russell 2000 (-1.5%) entered correction territory, which is typically defined as a 10% decline from a recent high. There was a relatively encouraging finish, though, that helped the S&P 500 (-1.6%) close above its 50-day moving average (4240) after falling below it during the session. Still, the losses were spread across all 11 S&P 500 sectors and all 30 Dow components. The energy (-3.6%) and financials (-2.8%) sectors took the brunt of the damage and extended recent losses while the consumer staples sector (-0.3%) declined just 0.3%. Declining issues outpaced advancing issues by a 7:1 margin at the NYSE. Reports continued to discuss the global spread of the Delta variant, which fit nicely with the prevailing narrative that growth prospects will continue to face headwinds as efforts are taken to contain the virus. The Treasury market remained a signpost for growth concerns, as the 10-yr yield dropped 12 basis points to 1.18%. In addition, WTI crude futures dropped 7.4%, or $5.34, to $66.42/BBL, as investors factored in expectations for weaker demand with a confirmation from OPEC+ that it will increase production, starting next month. The 2-yr yield decreased two basis points to 0.21%. The U.S. Dollar Index increased 0.2% to 92.84. Growth concerns have been around since the start of the second quarter, but the extent of the weakness today appeared to fuel worries about a meaningful pullback in the S&P 500. The CBOE Volatility Index spiked as much as 36.0% as investors rushed for downside protection, but it closed higher by 22.0% to 22.50. Looking at some individual movers, NVIDIA ($NVDA 751.19, +24.74, +3.4%) was a bright spot with a 3% gain, as were several of the stay-at-home stocks like Peloton ($PTON 118.43, +7.89, +7.1%), DoorDash ($DASH 175.50, +8.14, +4.9%), and DocuSign ($DOCU 289.48, +7.43, +2.6%). Zoom Video ($ZM 354.20, -7.77, -2.2%) underperformed after announcing it will acquire Five9 ($FIVN 188.12, +10.52, +5.9%) in a deal worth $14.7 billion in stock. Separately, Ingersoll-Rand ($IR 46.25, -1.91, -4.0%) said it tried to acquire SPX Flow ($FLOW 75.93, +13.84, +22.3%) last month for $85/SHARE, or $3.59 billion, in cash. Monday's economic data was limited to the NAHB Housing Market Index for July, which decreased to 80 (Briefing.com consensus 82) from 81 in June. Looking ahead, investors will receive Housing Starts and Building Permits for June on Tuesday. S&P 500 +13.4% YTDDow Jones Industrial Average +11.0% YTDNasdaq Composite +10.8% YTDRussell 2000 +7.9% YTDSource: (Briefing.com) Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page. .