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Stocks sink as bond yields surge: Stock market news today

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The Nasdaq led losses as rising Treasury yields piled on pressure and investors got a reminder not to expect a Fed rate cut any time soon.

Wall Street stocks fell in early trading Tuesday, as rising Treasury yields piled on pressure and investors got a reminder not to expect a Federal Reserve interest-rate cut any time soon.by Fed policymakers reminded investors that resilience in the US economy likely means borrowing costs will stay higher for longer.

The report also showed a decline in the quits rate, which is closely watched by economists as elevated quits are seen as a sign of confidence among workers. In August, the quits rate was unchanged at 2.3%, the lowest since January 2021. The JOLTS report showed 5.9 million hires were made in the month, a slight uptick from the 5.8 made last month.Point Biopharma, Boeing, and McCormick: Stocks trending in premarket tradingShares were down 5% in premarket trading on Tuesday.

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