Wall Street Gets Another Jolt From Bond Market; Traders Eye Next Moves
U.S. stocks dropped on Tuesday, with the main indexes retreating further from recent records. Treasury yields rose, pressuring stocks as inflation worries picked up again. S&P 500 closed 0.55% lower at 7,362.62, Nasdaq Composite lost 0.72% to 25,903.08 and the Dow fell 0.47% to 49,451.19, according to delayed Reuters data via LSEG right after the close. Brent crude held near $111 a barrel, a level that traders said could keep pressure on inflation.