US STOCKS SNAPSHOT-Wall Street opens lower as Big Tech tumbles

BY Reuters | TREASURY | 01/10/22 09:32 AM EST

Jan 10 (Reuters) - Wall Street's main indexes opened lower on Monday as heavyweight technology stocks dropped on expectations of a high interest rate environment, while big banks extended gains after U.S. Treasury yields climbed to new two-year highs.

The Dow Jones Industrial Average fell 56.45 points, or 0.16%, at the open to 36,175.21.

The S&P 500 opened lower by 21.69 points, or 0.46%, at 4,655.34, while the Nasdaq Composite dropped 184.12 points, or 1.23%, to 14,751.78 at the opening bell. (Reporting by Shreyashi Sanyal 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.

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