US STOCKS SNAPSHOT-S&P 500, Nasdaq open lower as rising yields dent tech shares

BY Reuters | ECONOMIC | 11/23/21 09:33 AM EST

Nov 23 (Reuters) - The S&P 500 and Nasdaq opened lower on Tuesday, as rising Treasury yields weighed on major technology stocks, while bank shares extended gains as investors priced in early monetary policy tightening by the Federal Reserve.

The Dow Jones Industrial Average rose 0.67 points at the open to 35,619.92. The S&P 500 opened lower by 4.46 points, or 0.10%, at 4,678.48, while the Nasdaq Composite dropped 45.25 points, or 0.29%, to 15,809.50 at the opening bell. (Reporting by Sruthi Shankar in Bengaluru; Editing by Maju Samuel)

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.