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


© Reuters.

By Geoffrey Smith — 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 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 was down 1.1% and the was down 0.3%, but the 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 and, to a lesser extent, .

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