Dow falls 320 points to start the week, Nasdaq drops 2% amid tech rout; European markets close lower 
The major averages took steep losses to start the week as investors continued their rotation out of technology stocks amid rising bond yields. 
The Dow Jones Industrial Average fell 323.54 points to 34,002.92, despite large gains in Merck. The S&P 500 shed 1.3% to 4,300.46. The technology-focused Nasdaq Composite was the relative underperformer, dipping 2.1% to 14,255.48. 
Social media giant Facebook lost 4.9% after being accused of a “betrayal of democracy” by a whistleblower who revealed her identity on Sunday. 
On the positive side, Tesla rose 0.8% after the company said this weekend that it delivered 241,300 electric vehicles during the third quarter, well above analysts estimates. 
Merck shares gained 2.1%, following through on an 8% surge on Friday after the drug maker said its oral antiviral treatment developed with Ridgeback Biotherapeutics for Covid-19 reduced the risk of hospitalization or death by 50% for patients with mild or moderate cases. 
Southwest rose 1.3% after an upgrade to overweight from equal weight from Barclays. The same analyst upgraded the North American Airlines sector to positive from neutral. 
Energy stocks also rose amid an uptick in oil prices. Exxon Mobil gained 1.3% and ConocoPhillips rallied 2%. 

The pan-European Stoxx 600 provisionally ended 0.4% lower, with tech stocks falling more than 2.1% to lead losses. 
In terms of individual share price movement, Stockholm-listed gambling company Kindred Group fell over 8% to the bottom of the Stoxx 600 after Carnegie downgraded the stock. 
At the top of the index, TechnipFMC climbed 6.4% after Technip Energies, in which it has a stake, announced a joint development with Siemens Energy. 
Source: CNBC, Investing.com