The S&P 500 Index ($SPX) (SPY) on Tuesday closed down -0.67%, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -0.65%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.61%. June E-mini S&P futures (ESM26) fell -0.70%, and June E-mini Nasdaq futures (NQM26) fell -0.63%.
Stock indexes finished lower on Tuesday, with the S&P 500 and Nasdaq 100 falling to 1.5-week lows, and the Dow Jones Industrial Average to a 2-week low. The recent rally in technology stocks, fueled by the buildout of artificial intelligence, is faltering after powering the S&P 500 and Nasdaq 100 to record highs last week. Rising bond yields on Tuesday sparked risk-off sentiment in asset markets, prompting a wave of stock liquidation. The 10-year T-note yield climbed to a 16-month high of 4.69% on Tuesday.
