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S&P 500, Nasdaq Fall as Yields Rally

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The S&P 500 and the Nasdaq opened lower on Thursday as the 10-year Treasury yield surged above 4 percent on bets of tighter monetary policy for a longer period, while Tesla fell after it gave few details on its affordable electric vehicle.

The Dow Jones Industrial Average rose 119.13 points, or 0.36 percent, at the open to 32,780.97.

The S&P 500 opened lower by 12.71 points, or 0.32 percent, at 3,938.68, while the Nasdaq Composite dropped 105.72 points, or 0.93 percent, to 11,273.77 at the opening bell.

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