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U.S. stocks open modestly lower as Treasury yields hit 14-year high, UK prime minister resigns

us stocks open modestly lower as treasury yields hit 14 year high uk prime minister resigns

U.S. stocks opened marginally lower on Thursday as investors reacted to Treasury yields touching 14-year highs, along with Tesla Inc. TSLA, -3.54% earnings that fell short of expectations and the resignation of U.K. Prime Minister Liz Truss. The S&P 500 SPX, +0.76% fell 4.5 points, or 0.1%, to 3,690. The Nasdaq Composite COMP, +1.30% shed 23 points, or 0.2%, to 10,657. The Dow Jones Industrial Average DJIA, +0.98% rose 44 points, or 0.2%, to 30,468, bolstered by International Business Machines Corp. IBM, +4.26% after the company beat on earnings, sending its shares higher. The yield on the 10-year Treasury was up 5 basis points to 4.169 in recent trade after briefly topping 4.170%, its highest level since 2007.

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