Nasdaq opens lower as spike in yields pressures tech stocks

Wall Street's main indexes opened lower on Tuesday as a rise in US bond yields hit heavyweight tech-related stocks, while undervalued banks and industrial stocks that stand to benefit from a re-opening economy edged higher.

The Dow Jones Industrial Average fell 97.5 points, or 0.29%, at the open to 33,074.19. The S&P 500 fell 15.7 points, or 0.39%, at the open to 3,955.69, while the Nasdaq Composite dropped 82.8 points, or 0.63%, to 12,977.09 at the opening bell.