Market Tremors: Stocks Waver Under Pressure of Rising Treasury Yields

U.S. stock indexes experienced a downturn as investors weighed earnings and rising Treasury yields. Verizon's revenue miss dragged the Dow down, while interest-rate sensitive sectors were affected by elevated yields. General Motors excelled with earnings, whereas GE Aerospace and 3M faced challenges due to supply constraints and profit forecasts.

On Tuesday, U.S. stock indexes took a hit as surging Treasury yields pressured rate-sensitive sectors, compelling investors to assess earnings and gauge corporate health. Verizon emerged as the biggest loser on the blue-chip Dow, plummeting 4.9% after failing to meet third-quarter revenue estimates.

Meanwhile, Dow heavyweight 3M reversed premarket gains, slipping 0.6% despite raising its full-year adjusted profit forecast. Key indexes declined as the Dow dropped 153.09 points, and the S&P 500 and Nasdaq Composite also recorded losses amid economic and political uncertainties.

The looming presidential election fueled concerns over fiscal policy, causing U.S. Treasury yields to rise. Apple and Nvidia, both sensitive to interest rates, fell, deepening tech sector losses. Despite improved earnings from General Motors, the broader market remains volatile, with an upcoming central bank meeting anxiously anticipated.

(With inputs from agencies.)