Nasdaq drops over 1% at open as surging bond yields hammer tech shares

The Nasdaq fell the most among Wall Street indexes at open on Tuesday as technology heavyweights came under pressure from a surge in bond yields on expectations of higher interest rates and rising inflation.

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The Dow Jones Industrial Average fell 121.67 points, or 0.35%, at the open to 34,747.70.

The S&P 500 opened lower by 23.57 points, or 0.53%, at 4,419.54, while the Nasdaq Composite dropped 182.76 points, or 1.22%, to 14,787.21 at the opening bell. (Reporting by Devik Jain in Bengaluru; Editing by Maju Samuel)

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