U.S. equities slumped at the start of trading Tuesday, while Treasury yields pushed higher as a rout in the stock and bond markets persisted ahead of third-quarter earnings season.
The S&P 500 (^GSPC) sank 0.6%, while the Dow Jones Industrial Average (^DJI) slipped 60 points, or 0.2%. The Nasdaq Composite (^IXIC) fell roughly 0.7% after the technology-heavy index hit its lowest level since July 2020 to start the week. Meanwhile, the benchmark 10-year Treasury again tested 4%.
Investors are navigating a murky week marked by producer and consumer inflation data and the first reporters of third-quarter earnings season, which include four of the country’s largest banks by assets.
Markets remain on edge over the government’s Consumer Price Index (CPI) due out Thursday, which is likely to show inflation remained persistently high despite aggressive intervention by the Federal Reserve to slow the economy. Following the release of August’s CPI print on Sept. 13, the S&P 500 plunged 4.3%…