How major United States stock indexes fared Tuesday

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Markets Insider

It touched its highest intraday since March 21 at 15,589.20. Brent crude, used to price global oils, rose 42 cents to $74.42 a barrel in London.

Benchmark U.S. crude oil rose 0.5 percent to $68.05 a barrel in NY.

USA stocks dropped quite sharply at the opening bell on Wednesday as U.S. bond yields crept above 3% yet again, stoking concerns about higher borrowing rates for companies already facing rising costs.

Eight of the index's 10 main groups ended lower.

Social media giant Twitter Inc (NYSE:TWTR) was one of those holding the S&P back, losing 4% to US$29.27 as a bleak outlook overshadowed a first-quarter earnings beat.

DowDuPont shed 3.6 percent to $63.22.

The TSX posted 10 new 52-week highs and five new lows.

The stock market's fall reflects investors' fear of rising interest rates and a national struggle for higher wages.

Japan's benchmark Nikkei 225 slipped 0.3 percent to 22,206.51 and Hong Kong's Hang Seng lost 0.8 percent to 30,378.89. Low interest rates have played an important role in the economic recovery of the last decade, and the yield on the 10-year note is a benchmark for many kinds of interest rates including mortgages. Southeast Asian shares were also mostly lower. The stock market had already been spooked by a climb in bond yields earlier in the year, sliding sharply in February.

Shares of Goodyear Tire & Rubber CO (NASDAQ:GT) fell more than 5% by the end of the day after reporting disappointing first quarter results.

The recent slide down in equities is occurring even though a string of strong corporate earnings.

The Dow Jones Industrial Average contains more than just industrials.

"We're seeing some of the earnings numbers have come out, and after further review, (investors) realized where all this revenue was coming from", said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. "Both however are selling off while noting that the tariffs will have a negative impact on profits", said David Kudla, Founder, CEO, and Chief Investment Strategist at Mainstay Capital Management. Axios reports that the drop was caused by three primary factors.

Cree swept ahead 11% after earnings of 4 cents per share and a 4% rise in revenue for its fiscal third quarter easily topped expectations. The target rates remained abnormally low - below 1% - between 2008 and 2017, following the USA economic recession. Heating oil rose 0.4 percent to $2.14 a gallon. -European differences on Iran, easing concerns that the United States might reinstate sanctions against Iran. The Nasdaq 100 outpaced the market's general losses on Tuesday, diving 2.1%.

A late round of buying erased early losses on Wall Street, leaving major indexes mixed at the close of trading.

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