Economic Data Pushes Treasury Yields Higher, Jolts Tech Stocks

U.S. stock indexes decreased as stronger economic data pushed Treasury yields higher, impacting major technology stocks. The Dow Jones dropped 62.81 points to 48,299.87, the S&P 500 lost 4.69 points to 6,873.80, and the Nasdaq Composite fell 21.13 points to 23,407.70.

U.S. stock indexes opened lower on Tuesday, impacted by unexpectedly robust economic data that drove Treasury yields upward. The subsequent rise in yields weighed on leading technology stocks, contributing to a market downturn.

At the start of trading at 09:30 a.m. ET, the Dow Jones Industrial Average declined by 62.81 points, amounting to a 0.13% decrease, settling at 48,299.87.

The S&P 500 and the Nasdaq Composite also experienced losses; the former shed 4.69 points or 0.07%, closing at 6,873.80, while the latter fell by 21.13 points or 0.09%, landing at 23,407.70.

(With inputs from agencies.)