Dow, Nasdaq Open Slightly Lower as Treasury Yields and Oil Prices Inch Higher

Tiger Newspress09-23 21:30

U.S. equities were slightly lower on Wednesday as Treasury yields and oil prices inched higher amid fresh uncertainty around the war between the U.S. and Iran.

The S&P 500 dropped 0.11%, while the Nasdaq Composite dipped 0.26%. The Dow Jones Industrial Average was down 53.6 points, or 0.1%.

Treasury yields increased, weighing on equity. The yield on the 10-year Treasury note climbed more than 2 basis points to 4.99%, as did the 30-year Treasury bond yield to 5.323%.

Futures tied to the major averages had reversed course from earlier gains after Brent crude oil futures moved up as well. Brent futures for November delivery were last seen trading 1% higher at around $100 a barrel, while U.S. West Texas Intermediate futures were up marginally at around $90 per barrel.

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