US: Nasdaq slides at open as bond yields spike

[NEW YORK] The tech-heavy Nasdaq dropped at the open on Thursday as bond yields hit 14-month highs after the Federal Reserve pledged to tolerate inflation and keep monetary policy loose through 2023.

The Dow Jones Industrial Average fell 87.2 points, or 0.26 per cent, at the open to 32928.16. The S&P 500 fell 20.6 points, or 0.5 per cent%, at the open to 3953.5, while the Nasdaq Composite dropped 176.0 points, or 1.30 per cent, to 13349.203 at the opening bell.

REUTERS