The 30-stock index tumbled 344.31 points to end the week’s first session at 42,931.60.
The S&P 500 index dipped 10.69 points to 5,853.98.
The NASDAQ regained 50.45 points to 18,540.01.
Consumer and homebuilder stocks were among the biggest losers as fears about higher-for-longer interest rates crept up, with Target and Builders FirstSource each down more than 4%. Lennar also shed more than 3.5%.
Momentum behind the major U.S. indexes’ recent gains may also depend on whether companies can beat expectations this earnings season, which is set to ramp up this week. Roughly one-fifth of S&P 500 companies — including major names such as Tesla, Coca-Cola and GE Aerospace — are set to report through Friday.
Earnings will be key this week with roughly one-fifth of the S&P 500 set to report. Among the companies on deck are Tesla, Coca-Cola and GE Aerospace.
Thus far, the results have been mixed. Of the 14% of S&P 500 companies that have already posted third-quarter results, 79% have beaten expectations. Analysts have significantly downgraded their earnings expectations for the quarter in recent months.
Prices for the 10-year Treasury sank, raising yields to 4.19% from Friday’s 4.08%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.17 to $70.39 U.S. a barrel.
Prices for gold advanced $4.50 an ounce to $2.734.50 U.S.