U.S. stocks drifted lower Monday ahead of a momentous week full of potential flashpoints in Washington, D.C., and around the world. The S&P 500 slipped 0.3%, though it remains near its record set last month.

Many on Wall Street expected Tuesday’s election would be the final obstacle standing in the way of a stock-market melt-up heading into the end of the year. But rising Treasury yields are increasingly a concern.

On Wednesday, Reuters reported that Jamie Dimon — a perennial prospect for Treasury secretary, no matter the administration — would stay at the bank rather than join Trump’s cabinet. This is perhaps not a surprise,