U.S. stocks opened lower Wednesday amid rising yields as investors assessed fresh data on the housing market. The Dow Jones Industrial Average
dipped 0.4% soon after the opening bell, while the S&P 500
fell 0.5% and the Nasdaq Composite
slipped 0.8%, according to FactSet data, at last check. The Commerce Department said Wednesday that construction on new U.S. homes fell a seasonally adjusted 8.1% in September while building permits for new homes rose 1.4%. Meanwhile, the yield on the 10-year Treasury note was trading up around nine basis points Wednesday morning at 4.09%, FactSet data show, at last check.
Read the original article