Weakness in Big Tech leads stocks lower in early US trading

The Associated Press

Stocks are opening lower on Wall Street Tuesday, led by more declines in Big Tech companies. The S&P 500 fell 0.8% and the tech-heavy Nasdaq gave up 1.4%. Microsoft, Google’s parent company and Facebook were all down about 2%. The weakness in tech came as bond yields continued to march higher, which tends to draw money out of stock sectors like tech that soared to lofty valuations. The yield on the 10-year Treasury note climbed to 1.54%, the highest since late June. Energy stocks bucked the downward trend and rose as crude oil prices continued to move higher.