Market Watch: Bond Sell-Off Takes A Toll

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U.S. stocks were slightly lower Tuesday, as stocks dropped following a worldwide drop in bond prices.

At the start of Tuesday, 10-year benchmark Treasury notes had yields upwards of 2.3% for the first time in almost six months, reaching by far their highest point in 2015. European indices were lower in early trading, with Germany’s DAX down almost 2.5%.

However, as the day went on, yields returns to the 2.20-2.25% range, and market losses eased.

Elsewhere, markets had their first chance to react to the news of Verizon’s acquisition of AOL, a deal that became official yesterday for the purchase price of $4.4 billion. Otherwise, investors continue to keep an eye on the considerable data releases that are still to come this week.

Here are the final numbers from Wall Street on Tuesday:

Dow Jones Industrial Average: 18,068.23 (-36.94)

NASDAQ: 4,976.19 (-17.38)

S&P 500: 2,099.12 (-6.21)

Phil Cannella
Partnered with CBS Radio Network, Phil Cannella reports on the issues most important to the American retiree.
Phil Cannella

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