The blue-chip index joined the S&P 500 and Nasdaq Composite in letting go of earlier gains in the face of rising bond yields. The Dow was down 75 points, or 0.2%. The S&P 500 was down 0.3%. The Nasdaq Composite was down 0.5%.
The yield on the 10-year Treasury note was up to 4.8%, while the 30-year yield was up to 4.99%. Though a cooler-than-expected producer price index for December initially sent bond yields lower and stocks higher, the report didn’t relieve concerns about the path forward for interest rates. It would take a cool consumer price index tomorrow to really shift momentum, at least until earnings reports start rolling out.