S&P 500 and Nasdaq open lower as chip stocks drag, inflation fears persist

The S&P 500 and the Nasdaq opened lower on Tuesday, pressured by a selloff in heavyweight chip stocks and lingering inflation concerns as Treasury yields continued to rise.

The Dow Jones Industrial Average rose 10.4 points, or 0.02 percent, at the open to 49,696.53. The S&P 500 fell 27.3 points, or 0.37 percent, at the open to 7,375.75, while the Nasdaq Composite dropped 167.2 points, or 0.64 percent, to 25,923.486 at the opening bell.

Reuters

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