US stocks retreat in early trade, Nasdaq outperforms
|Major US equity indices witnessed a mixed opening on Tuesday, with the Dow and S&P 500 snapping six consecutive days of winning streak.
A fresh wave of an upsurge in the US Treasury bond yields was seen as one of the key factors being some early nervousness in the market. It is worth reporting that the benchmark 10-year yields jumped to its highest level since 2014 and the short-end at the highest since 2008.
Rising bond yields also pushed the US Dollar higher and was eventually proving a drag on shares of multinational companies, who tend to get impacted by stronger buck as they provide sales and services abroad.
Among individual movers, Walmart shares plunged over 9% following underwhelming fourth-quarter results and turned one of the biggest drags on the blue-chip index during the opening hour of trade.
At the time of writing this report, the Dow Jones Industrial Average slipped over 70-points to 25,145 and the broader S&P 500 Index tread water near 2,731. Meanwhile, tech-heavy Nasdaq Composite Index outperformed the broader indices and jumped nearly 20-points to 7,260.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.