US stocks fell on Tuesday, extending losses into a second day as Big Tech names retreated and yields on 10-year Treasuries climbed.
The S&P 500 Index pared earlier declines, closing down 0.7% after shedding as much as 1.5%. Eight of 11 industry groups dropped, with rate-sensitive real estate stocks the biggest loser. The Nasdaq 100 Index lost 0.8%, hovering near the 50-day moving average for the first time since February, while a gauge of Magnificent Seven companies slid 1.1%. The Cboe VIX Index climbed above 17. The 10-year Treasury yield rose to 4.27%.