Investors digested rising bond yields that have weighed on tech stocks.
Some investors worried that higher interest rates could tip the economy into a recession, even as Wall Street tried to move past this month's regional banking crisis. The yield on the 2-year U.S. Treasury note rose back above 4%, weighing on interest-rate sensitive tech stocks.
"When you dig beneath the headline, it's a little weaker than the headline suggests. So, for instance, if you break up the Nasdaq into quintiles, only the top quintile is up; all four of the other quintiles are down," Solus Alternative Asset Management's Dan Greenhaus said Tuesday on CNBC's ""They have the largest weighting in a number of indices.
The Federal Reserve's Vice Chair of Supervision Michael Barr will make another appearance in Washington on Wednesday morning, this time before theOn the economic front, traders are that's set to release Wednesday after the open. Economists polled by Dow Jones forecast a decline of 3% in February, down from a rise of 8.1% the previous month.The latest pending home sales data is set to release Wednesday after the open. Economists polled by Dow Jones forecast a decline of 3% in February, down from a rise of 8.1% the previous month.
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