U.S. stocks opened lower Tuesday amid worries over a potential government shutdown and higher Treasury yields. The Dow Jones Industrial Average DJIA, -0.60% was down 0.6% soon after the opening bell, while the S&P 500 SPX, -0.88% shed 0.7% and the Nasdaq Composite COMP, -1.04% dropped 0.7%, according to FactSet data, at last check. Investors are watching for Congress to pass a budget by Saturday or risk a U.S.
government shutdown. Moody’s has said that a shutdown “would demonstrate the significant constraints that intensifying political polarization put on fiscal policymaking at a time of declining fiscal strength, driven by widening fiscal deficits and deteriorating debt affordability.” Meanwhile, ten-year Treasury yields were down slightly on Tuesday at around 4.51%, after on Monday ending at the highest level since October 17, 2007.
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