Stocks were slipping to start the day on Tuesday as bond yields continued to spike.
The Dow Jones Industrial Average was down 75 points, or 0.2%. The S&P 500 was down 0.3%. The Nasdaq Composite was down 0.4%.
The yield on the 10-year Treasury note was up to just under 4.5%, while the 30-year yield was up to 4.96%. Long-term Treasury yields have returned to the top end of this year’s range in the wake of Moody’s downgrade of U.S. sovereign debt.
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