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Wall St slides at open as rising bond yields hit growth stocks -Breaking

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© Reuters. An American trader is seen working on the New York Stock Exchange’s trading floor in Manhattan. May 5, 2022. REUTERS/Andrew Kelly

(Reuters) – Wall Street’s main indexes were lower Monday due to rising U.S. Treasury yields and prospects for aggressive monetary tightening. This weighed down growth stocks as sentiment was affected by fears about a slowdown in China.

The Dow Jones Industrial Average fell 214.2 points, or 0.65%, at the open to 32685.17. The S&P 500 fell 42.1 points, or 1.02%, at the open to 4081.27, while the Nasdaq Composite dropped 221.6 points, or 1.82%, to 11923.029 at the opening bell.

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