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U.S. stocks pare losses heading into final hour of trading

U.S. stocks are paring their losses as the final hour of trading begins on Tuesday, although the Dow Jones Industrial Average remained down more than 400 points on the day. The blue-chip gauge was off 413 points, or 1.3%, at 30,615, leaving it within 1,000 points of its 52-week low from mid-June. The S&P 500 was down 50 points, or 1.3%, at 3,849. The Nasdaq Composite retreated 120 points, or 1.1%, to 11,414. Investors have blamed Tuesday’s market ructions on rising Treasury yields, especially on the 2-year yield [s:bx:tmubmusd02Y], which is approaching 4%, and the 10-year yield [s:bx:tmubmusd10Y], which has surpassed 3.50%. The difference between the two yields, known as the yield curve, has moved further into negative territory. Looking ahead, investors are waiting on the Federal Reserve to announce its next interest-rate hike on Wednesday.

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