Dow reclaims 2018 gain as blue-chip gauge attempts to bounce back from Tuesday drop

The Dow Jones Industrial Average early Wednesday was trading slightly higher, but was sufficiently buoyant to pivot back in to positive territory for 2018, a day after the benchmark relinquished its year-to-date gain following a 193-point slump on the back of rising Treasury yields. The Dow, most recently, was up 46 points, or 0.2%, enough to give the benchmark a slight 0.1% gain for the year. A rally in yields for the benchmark 10-year Treasury note on Tuesday to its highest level since 2011 (prices move inversely to yields), rattled investors by undercutting appetite for asset considered risky compared against risk-free debt offering higher yields. Accelerating rates also force investors to revalue equity investments, because it means higher borrowing costs for companies. Meanwhile, the S&P 500 index rose 0.3% at 2,718, with a gain of 1.7% so far in 2018, while the Nasdaq Composite Index traded 0.3% higher at 7,375, boasting a 6.8% gain thus far this year.