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.
