Stock Market Today: Nasdaq, S&P 500 Fall Again as Treasury Yields Rise

Newly upgraded Amgen (AMGN) kept the Dow's head above water.

stock market chart
(Image credit: Getty Images)

Most stocks closed lower for a fifth straight day Tuesday, as rising government bond yields turned up the heat once again. 

The Nasdaq Composite (-1.1% at 10,426) and the S&P 500 Index (-0.7% at 3,588) finished in the red as the 10-year Treasury yield climbed 5.2 basis points to 3.937%. (A basis point = 0.01%.) Remember, rising bond yields can have an outsized effect on tech stocks that are valued based on longer-term earnings. And as bond yields and borrowing costs rise, these longer-term earnings can be negatively impacted. 

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Karee Venema
Senior Investing Editor, Kiplinger.com

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.