Stocks slip at the open
US stocks retreated on Tuesday as investors cautiously weighed rate-cut odds ahead of crucial jobs data and eyed what higher chances of a Donald Trump win could mean for markets.
The Dow Jones Industrial Average (^DJI) slipped 0.1% while the S&P 500 (^GSPC) nearly 0.2%. The tech-filled Nasdaq Composite (^IXIC) slid more than 0.2%.
Meanwhile, political risk is preying on minds, as Wall Street assesses what a Trump election win could mean for markets as speculation grows that Biden’s future as the Democratic Party’s standard bearer. The 10-year Treasury yield (^TNX) nudged lower to 4.43% on Tuesday after one of its largest single day gains of the year on Monday.