S&P 500 closes down as Powell nod triggers yield surge, dents tech 
The S&P 500 give up gains to close lower Monday, led by selloff in tech as investors maintained bets on earlier rate hikes following news that Federal Reserve Chairman Jerome Powell would be nominated for another term.  
The S&P 500 fell 0.32%, and had earlier hit an intraday record of 4,743.74, the Dow Jones Industrial Average was up 0.1%, or 17 points, the Nasdaq fell 1.26%. 
The United States 10-Year surged above 1.6%, helping to stoke a bid on banking stocks. 
Tesla (NASDAQ:TSLA) increased 1% after CEO Elon Musk said in tweet that the company would "probably" launch its Model S Plaid electric sedan in China early next spring. 
In health care, meanwhile, vaccine makers BioNTech SE (NASDAQ:BNTX), and Moderna Inc (NASDAQ:MRNA) were in the ascendency with latter up more than 7% after receiving final clearance for their booster shots from the Food and Drug Administration on Friday. 
General Motors (NYSE:GM), meanwhile, was up more than 2% after CNBC reported the automaker acquired a 25% stake in the Seattle-based boating start-up Pure Watercraft. 

The pan-European Stoxx 600 provisionally closed flat, with telecoms stocks climbing 1.8% to lead the gains while travel and leisure shares slumped 1.3% on concern about a return of Covid lockdown restrictions in some countries. 
The big corporate news on Monday came from Italy, where Telecom Italia shares surged more than 30% after the company received a 10.8 billion euro ($12 billion) buyout proposal from U.S. fund KKR. 
Source: CNBC, Investing.com