US Market Indexes Close Lower on Tuesday

E-mini Dow Jones Industrial Average

Losses at technology and health care companies helped pull stocks lower Tuesday, snapping the Dow Jones industrial average's eight-day winning streak.

All three major USA stock indexes closed down, with the S&P 500 ending a four-day winning streak and the Dow Jones Industrial Average posting its first loss in eight sessions.

KEEPING SCORE: The S&P 500 index fell 25 points, or 1 percent, to 2,704 as of 3:30 p.m. The Nasdaq fell 59 points, or 0.8 percent, to 7,351. Capital One Financial stock rose 1.6 percent. The Dow lost 0.8 percent, to 24,706.41.

The benchmark 10-year Treasury yield hit 3.09 percent on Tuesday, its highest level since 2011.

CHINA FACTOR: President Donald Trump tweeted Sunday that he was working with President Xi Jinping of China to put Chinese telecom ZTE "back into business, fast" after USA sanctions threatened ZTE's existence and 70,000 Chinese jobs.

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Stocks struggled to a mixed finish on Wall Street as weakness in smaller-company stocks offset gains in large companies.

Banks bucked the downward trend Tuesday and rose along with bond yields.

Stocks are opening moderately higher on Wall Street, led by gains in technology, health care and energy companies. Small-company stocks also rose.

Tuesday ended an eight-day run of consecutive gains for the Dow Jones.

Bond prices fell, sending yields higher, after the government reported a solid increase in retail sales last month.

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The Dow lost 183 points, or 0.7 percent, to 24,715.

MARKETS OVERSEAS: In Europe, Germany's DAX fell 0.1 percent after new data showed the country's economy slowed in the first quarter. The Nasdaq composite tumbled 1% and the S&P 500 0.8%.

A surge in USA government bond yields to their highest level in nearly seven years sent Wall Street shares sliding on Tuesday after strong retail sales data stoked inflation concerns and investors fretted about looming trade talks between the United States and China. A move in the yield above 2.9 percent earlier this year triggered a correction for USA equities.

The benchmark 10-year note's yield climbed to 3.09% in afternoon trading, and it is up more than 67.1 basis points in 2018, according to data from bond platform Tradeweb.

The S&P 500 index fell 18 points, or 0.7 percent, to 2,711. The Nasdaq composite fell 75 points, or 1 percent, to 7,335.

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