Wall Street Opens Lower as 10-year Yield Hits 5 Percent; Big Tech Earnings in Focus

Wall Street Opens Lower as 10-year Yield Hits 5 Percent; Big Tech Earnings in Focus
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City on Oct. 20, 2023. Brendan McDermid/Reuters
Reuters
Updated:

Wall Street’s main indexes fell at the open on Monday as the yield on the benchmark U.S. 10-year Treasury note hit the crucial 5 percent mark, while investors awaited earnings from the world’s largest technology companies and key economic data.

The Dow Jones Industrial Average fell 134.26 points, or 0.41 percent, at the open to 32,993.02. The S&P 500 opened lower by 13.76 points, or 0.33 percent, at 4,210.40, while the Nasdaq Composite dropped 52.96 points, or 0.41 percent, to 12,930.85 at the opening bell.