S&P 500, Nasdaq fall as yields rally

The S&P 500 and the Nasdaq opened lower on Thursday as the 10-year Treasury yield surged above 4% on bets of tighter monetary policy for a longer period, while Tesla fell after it gave few details on its affordable electric vehicle.

The Dow Jones Industrial Average rose 119.13 points, or 0.36%, at the open to 32,780.97.

The S&P 500 opened lower by 12.71 points, or 0.32%, at 3,938.68, while the Nasdaq Composite dropped 105.72 points, or 0.93%, to 11,273.77 at the opening bell.

More to come...