Stock Market News – Stocks slump at the open as yields spike
U.S. stocks fell at the start of trading Tuesday as bond yields shot up. The Dow Jones Industrial Average
opened near 33,115 down 57 points or 0.2%, while the S&P 500
was down 12 points or 0.3%, trading near 3,959. The Nasdaq Composite
made up of technology stocks that are more likely to suffer as inflation stirs, was near 13,000, down 70 points or 0.5%. The yield on the 10-year U.S. Treasury note
poked above 1.77% briefly Tuesday morning, but was around 1.75% at the opening bell. As investors await details of President Joe Biden‘s ambitious infrastructure spending bell, many believe it will bolster economic growth, and perhaps inflation.