Wall Street Opens Mixed, Hurt by Bond Yield Rise; Dow up 190 Pts, Nasdaq Down

Stock Markets4 minutes ago (Sep 27, 2021 09:47AM ET)

(C) Reuters.

By Geoffrey Smith

Investing.com — U.S. stock markets opened mostly lower on Monday, as a rise in bond yields – driven by a combination of concerns around U.S. fiscal and monetary policy – weighed on most equity valuations.

The 10-year U.S. Treasury yield rose 3 basis points to touch 1.50% for the first time in three months before the stock market opened, against a backdrop of rising tension in Washington, D.C. over the funding of the federal government and President Joe Biden’s economic policy agenda.

By 9:45 AM ET (1345 GMT), the Nasdaq Composite was down 1.1% and the S&P 500 was down 0.3%, but the Dow Jones Industrial Average was up 195 points, or.0.6%, at 34,993 points, supported by banking stocks and energy stocks, the latter of which profited from a spike in prices for natural gas and, to a lesser extent, crude oil.

Wall Street Opens Mixed, Hurt by Bond Yield Rise; Dow up 190 Pts, Nasdaq Down

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