U.S. stocks open lower as Treasury yields jump to fresh highs

U.S. stocks opened lower on Tuesday as a selloff in long-dated Treasury bonds continued to weigh on stocks. On Tuesday, the yield on the 30-year bond
TMUBMUSD30Y,
4.889%
reached its highest level since 2007, while the 10-year yield
TMUBMUSD10Y,
4.759%
also climbed to fresh 16-year highs. The S&P 500
SPX,
-1.34%
fell 22 points, or 0.5%, to 4,265 at the open. The Nasdaq Composite
COMP,
-1.68%
shed 96 points, or 0.7%, to 13,210. The Dow Jones Industrial Average
DJIA,
-1.08%
was off by 154 points, or 0.5%, to 33,279.