Nasdaq drops over 1% at open as surging bond yields hammer tech shares

Dow Jones share price, Nasdaq Composite, Dow Jones, S&P500, Wall Street

The Nasdaq fell the most among Wall Street indexes at open on Tuesday as technology heavyweights came under pressure from a surge in bond yields on expectations of higher interest rates and rising inflation.

The Dow Jones Industrial Average fell 121.67 points, or 0.35 per cent, at the open to 34,747.70.

The S&P 500 opened lower by 23.57 points, or 0.53 per cent, at 4,419.54, while the Nasdaq Composite dropped 182.76 points, or 1.22 per cent, to 14,787.21 at the opening bell.

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