Dow tumbles 200 points at open as elevated bond yields threatens investor optimism

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Video: Wall Street points to a slightly lower open following another mixed session (CNBC)

Wall Street points to a slightly lower open following another mixed session
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U.S. stock-market benchmarks fell at the start of Thursday’s session as the specter of higher borrowing costs weighed on investor sentiment. The S&P 500 slipped 0.7% to 3,902. The Dow Jones Industrial Average retreated 210 points, or 0.7%, to 31,402. The Nasdaq Composite fell 1.2% to 13,794. Some weak economic data arrived in the morning as new applications for U.S. unemployment benefits rose in mid-February to a four-week high of 861,000. Hopes of reflation have lifted bond yields but are now sparking jitters among investors who feel record-high equities are vulnerable to a pullback. The 10-year Treasury note yield was up 0.7 basis point to 1.306%, around its highest level since last February.

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