U.S. stocks opened lower on Tuesday, with major indexes on track to end a lengthy streak of gains as bond yields jumped to a multiyear high. The Dow Jones Industrial Average DJIA, -0.68% fell 0.5% to 24,779. The blue-chip average is coming off an eight-day rally. The S&P 500 SPX, -0.63% lost 0.4% to 2,718. The Nasdaq Composite Index COMP, -0.77% shed 0.7% to 7,360. Among the primary factors driving trading was the yield on the 10-year U.S. Treasury note TMUBMUSD10Y, +1.71% which shot above the psychologically important 3% level and hit its highest level since 2011. Rising yields are seen as making equities less comparably attractive by raising borrowing costs. Investors are also watching yields for the impact they could have on Federal Reserve policy. In company news, Home Depot Inc. HD, -1.29% fell 1.5% after reported lower-than-expected revenue.
Read the full story: Dow’s win streak imperiled as 10-year government debt rate rises to fresh peak