Stocks drift lower on Wall Street; yields continue to ease

Associated Press
Tuesday, March 2, 2021 1:21 p.m. | Tuesday, March 2, 2021 1:21 p.m.

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AP

A sign for Wall Street is carved in the side of a building.

Stocks are closing lower on Wall Street after a wobbly day, giving back some of their big gains from a day earlier.

The S&P 500 lost 0.8% Tuesday after flipping between small gains and losses throughout the day. A day before, it leaped 2.4% for its best performance since June.

For weeks, investors’ focus has been fixed on the bond market, where a swift recent rise in interest rates is threatening one of the main reasons for the stock market’s run to records through the pandemic. The yield on the 10-year Treasury eased a bit to 1.41%.