S&P 500 Index opens lower as rising Treasury yields weigh on sentiment

  • The major Wall Street indices started the day in negative territory.
  • Financial stocks post strong gains on rising Treasury yields.
  • Risk-sensitive tech stocks suffer heavy losses Tuesday.

The main US stock indices They opened lower on Tuesday as investors take a cautious mood amid soaring yields on US Treasuries. At time of writing, the Dow Jones Industrial Average was down 0.2% to 33,107, the S&P 500 was down 0.4% to 3,955, and the Nasdaq Composite was down 0.95% to 12,842.

The benchmark 10-year US Treasury yield rose to its highest level in more than a year at 1,774% on Tuesday and helped financial stocks post strong gains after Monday’s sell-off. Currently, the S&P 500 Financials Index is the only major sector trading in positive territory, up nearly 1%.

On the other hand, the risk-sensitive technology index is down 1.2% and the energy index is losing 1.15% under pressure from the drop in crude prices.

S&P 500 chart (daily)

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