Dow falls over 600 points, Nasdaq, S&P down 1.5% at 1-week low in thin trading, elevated yields add pressure

Wall Street's major stock indexes dropped significantly on Monday. Sparse trading volumes and high Treasury yields affected the traditionally strong year-end rally. The Dow, S&P 500, and Nasdaq all fell. Leading declines were growth stocks like Tesla and Meta. Analysts are concerned about the headwinds from Treasury yields impacting equity prices.