Bank stocks slid. JPMorgan Chase<\/a>, Morgan Stanley<\/a> and Bank of America<\/a> declined. The State Street Financial Select Sector SPDR ETF (XLF)<\/a> also closed lower.<\/p>\n The 30-year Treasury bond yield<\/a> climbed to a high above 5.6% to reach a level not seen since June 2002. The benchmark 10-year Treasury note<\/a> yield topped 5.29% at its session high.<\/p>\n The combination of higher oil and yields has put pressure on stocks of late. The Dow<\/a> fell more than 300 points on Monday, while the S&P 500<\/a> and Nasdaq Composite<\/a> shed 0.8% and 0.9%, respectively.<\/p>\n Stock Chart IconStock chart icon U.S. Treasury yields<\/p>\n “The markets are believing that inflation will come down [and] that it will come with demand destruction,” Jeff Klingelhofer, a managing director and portfolio manager at Aristotle Pacific Capital, told CNBC. “That’s why equities are down [and] that’s why rates are up…the markets are shifting to a belief that [Fed chairman Kevin] Warsh has that resolution.”<\/p>\n Tuesday’s moves put stocks on track for mixed performances on a monthly and quarterly basis.<\/p>\n The S&P 500 and Dow have lost 0.2% and 3.5%, respectively, in September.\u00a0For the Dow, it would snap a five-month winning streak. The Nasdaq has advanced more than 1% month to date.<\/p>\n For the quarter, the S&P 500 has gained 2% along with the Nasdaq. The Dow has fallen almost 2% in the third quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"Traders work on the floor of the New York Stock Exchange (NYSE) in New York on Sept. 16,…\n","protected":false},"author":2,"featured_media":631573,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[10387,84455,941,357,1761,1012,77037,3449,42,1579,7258,190,4106,1763,1008,43,1762,3310,1760,18195,218208,29170,40,38,41,39,3309,2788],"class_list":["post-631572","post","type-post","status-publish","format-standard","has-post-thumbnail","category-headlines","tag-advanced-micro-devices-inc","tag-bank-of-america-corporation","tag-breaking-news-markets","tag-business-news","tag-dow-jones-fut-sep25","tag-dow-jones-industrial-average","tag-financial-select-sector-spdr-fund","tag-hang-seng-index","tag-headlines","tag-jpmorgan-chase-co","tag-kospi-index","tag-markets","tag-morgan-stanley","tag-nasdaq-100-fut-sep25","tag-nasdaq-composite","tag-news","tag-sp-500-fut-sep25","tag-sp-500-index","tag-stock-markets","tag-stoxx-600","tag-summit-therapeutics-inc","tag-suppress-zephr","tag-top-news","tag-top-stories","tag-topnews","tag-topstories","tag-u-s-10-year-treasury","tag-u-s-30-year-treasury"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/631572","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=631572"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/631572\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/631573"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=631572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=631572"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=631572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"hide](\"https:\/\/static-redesign.cnbcfm.com\/dist\/a54b41835a8b60db28c2.svg\")
<\/p>\n