Market participants are digesting a Wall Street Journal report indicating the Fed could raise rates above 5% next year due to wage growth and inflation.
Treasury yields moved noticeably higher around the time that the stock market opened. The 2-yr note yield, at 4.29% earlier, sits at 4.35% now. The 10-yr note yield, at 3.51% earlier, sits at 3.60% now.
Dow -237.56 at 34197.66, Nasdaq -120.56 at 11280.79, S&P -39.81 at 4032.31