The S&P 500 index was down 0.5% as of 1:14 p.m. Eastern. The Dow Jones Industrial Average was up 95 points, or 0.3%, to 31,487 and the technology-heavy Nasdaq lost 1.6%.
"The 10-year yield is saying the economy is going to get stronger," said Ryan Detrick, chief investment strategist for LPL Financial. Despite the rollout of millions of doses of coronavirus vaccines weekly, the U.S. economy continues to struggle. Payroll processor ADP released a report Wednesday showing that private employers created only 117,000 jobs in February, far below economists' forecasts.
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