Stocks are down today, and investors that want to know more about why will want to check out our coverage of the market!
The big news keeping stocks down on Tuesday comes from the Federal Reserve. The agency noted an increase in bond yields today. That has both 10-year and 30-year Treasury yields reaching a new 16-year high today.
That matters to stocks as bond yields offer a safer investment compared to the market. This means traders are more likely to pick up bonds with increasing yields. Of course, that also means that investors aren’t pumping their money into the stock market when they do this.
Adding to all of this, the Fed continues to send signals that it won’t be lowering interest rates anytime soon. It has been increasing rates to battle inflation, and more could increase could come later this year. Even if they don’t, maintaining the current interest rate is still another reason stocks are down today.
Let’s check out how the major stock indices are performing below!
Stock Indices Down on Tuesday
- The S&P 500 starts us off with a 1.1% drop as of Tuesday morning.
- Next is the Dow Jones Industrial Average, which is down 0.9% as of this writing.
- Finally, the Nasdaq Composite is falling roughly 1.4% this morning.
Investors who are looking for even more of the most recent stock market news will want to keep reading!
InvestorPlace is home to all of the hottest stock market news that traders need to know about on Tuesday! A few examples of that include Warby Parker (NYSE:WRBY) stock getting an upgrade, how real estate troubles are hurting Nio (NASDAQ:NIO) stock and what to know about a Plug Power (NASDAQ:PLUG) stock short squeeze. All of these matters are covered in detail at the links below!
More Stock Market News for Tuesday
- Evercore ISI Is Pounding the Table on Warby Parker (WRBY) Stock
- A Real Estate Crisis Is Dragging NIO Stock Down Today
- Can Plug Power (PLUG) Stock Short Squeeze Higher?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.