May 19 (Reuters) – The S&P 500 and the Nasdaq opened lower on Tuesday, pressured by a selloff in heavyweight chip stocks and lingering inflation concerns as Treasury yields continued to rise. The Dow Jones Industrial Average rose 10.4 points, or 0.02%, at the open to 49696.53. The S&P 500 fell 27.3 points, or 0.37%, […]
Business
S&P 500 and Nasdaq open lower as chip stocks drag, inflation fears persist
Audio By Carbonatix
May 19 (Reuters) – The S&P 500 and the Nasdaq opened lower on Tuesday, pressured by a selloff in heavyweight chip stocks and lingering inflation concerns as Treasury yields continued to rise.
The Dow Jones Industrial Average rose 10.4 points, or 0.02%, at the open to 49696.53. The S&P 500 fell 27.3 points, or 0.37%, at the open to 7375.75, while the Nasdaq Composite dropped 167.2 points, or 0.64%, to 25923.486 at the opening bell.
(Reporting by Ragini Mathur in Bengaluru; Editing by Pooja Desai)