Markets Right Now: US stocks open slightly lower

New York's financial district

With the 10-year yield hitting the mark of 3 percent, the financial markets all around the globe have fallen rapidly with European and Asian indexes trading on Wednesday. Moves for the equity markets came against the backdrop of rising borrowing costs, which were causing a reassessment of stock valuations.

Volume on USA exchanges was 6.67 billion shares, compared to the 6.75 billion average for the full session over the last 20 trading days. Retailers and industrial companies also rose.

Industrial and basic materials companies and technology firms took some of the worst losses.

Google Parent company Alphabet's stock fell 5 percent despite reporting a $9.4 billion first-quarter increase in net profit on Monday.

The Dow Jones Industrial Average rose 46.07 points, or 0.19 per cent, at the open to 24,070.20.

Wall Street stocks finished a volatile session mostly higher Wednesday with strong earnings from Boeing offsetting worries about higher interest rates. The Nasdaq composite dipped 3.61 points, or 0.1 percent, to 7,003.74.

The investors continue to keep an eye on the bond market where yields on 10-year treasuries were traded at its highest since January 2014, passing the psychological barrier of 3% for the first time in over 4 years.

The Dow Jones industrial average fell 97, or 0.4 percent, to 23,928.

The S&P 500 posted 13 new 52-week highs and 21 new lows; the Nasdaq Composite recorded 61 new highs and 90 new lows.

THE QUOTE: "U.S. markets were rocked by both bond yields and corporate concerns overnight, seeing only few defensive sectors thriving on the comprehensive S&P 500 index".

The aerospace company topped Wall Street's estimates in the first quarter and raised its forecasts for the year.

Bond prices slipped again Tuesday. The 10-year yield traded at 2.43 percent at the beginning of the year.

Facebook fell 4 percent to $159.27 and Microsoft skidded 2.4 percent to $93.10.

Declining issues outnumbered advancing ones on the NYSE by a 1.94-to-1 ratio; on Nasdaq, a 1.71-to-1 ratio favored decliners. The VIX Volatility Index was lower at 17.84 for a loss of -0.18 points or -1.00%.

CURRENCIES: The dollar inched up to 108.86 yen from 108.84 yen. The euro rose to $1.2237 from $1.2205. Copper rose 1 percent to $3.14 a pound.

The Russell 2000 is up 17.77 points, or 1.2 percent. Japan's benchmark Nikkei 225 shed 0.3 percent. Brent crude, used to price worldwide oils, fell 1.1 percent to $73.86 per barrel in London.

Benchmarks in Hong Kong and South Korea fell as much as 1% by midday, while a number of other markets logged declines of at least 0.5%.

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