US stock indexes closed lower Tuesday as another swell higher for Treasury yields added pressure on big technology stocks. The S&P 500 lost 0.3%. Banks and small-company stocks…
(Newser) – US stock indexes closed lower Tuesday as another swell higher for Treasury yields added pressure on big technology stocks. The S&P 500 lost 0.3%. Banks and small-company stocks rose. The spotlight was again on the bond market, where the yield on the 10-year Treasury rose to 1.73%. Its jump this year has forced investors to reconsider paying such high prices for many stocks, particularly the tech giants that were big winners earlier in the pandemic.
