NEW YORK — Wall Street opened the week in the red as a surge in Treasury yields rattled investors already anxious about inflation driven by the Iran war.
The major indexes pulled back Monday while the 10-year Treasury yield, which influences a wide range of consumer interest rates including mortgages, climbed to 5.24 percent, a new 19-year high, according to Investopedia’s market briefing.
The sell-off followed President Trump’s rejection of deal talks over the weekend, which renewed worries about inflation fueled by the conflict.
Stock futures were slightly higher early Tuesday, with Dow Jones Industrial Average and S&P 500 futures recently up 0.2 percent and Nasdaq futures up 0.4 percent. The 10-year yield eased to 5.21 percent.
Crude oil futures were down 1.4 percent Tuesday morning at $91.30 a barrel, while gold futures ticked higher to $4,185 an ounce, reflecting continued demand for safe-haven assets.
Bitcoin traded at $84,400, recovering from Monday’s low of $82,500.
