Wall Street stocks. Photo: BBC
Wall Street stocks retreated early Tuesday as analysts pointed to angst over inflation pressures as the prolonged Middle East war kept oil prices high.
Equities had until recently “shrugged off the effects of higher yields”, Interactive Brokers’ Steve Sosnick said of increases in bond yields.
“After pretending this was not a problem, I think (the market) has now decided that higher yields are in fact a problem,” Sosnick said. “But we aren’t seeing panic or anything like that.”
About 10 minutes into trading, the Dow Jones Industrial Average was down 0.8 per cent at 49,289.53.
