US: Wall Street falls as Treasury yields hit nine-month high

WALL Street’s main indexes opened lower on Thursday (Aug 3) as a jump in US Treasury yields, spurred partly by Fitch’s downgrade of the US long-term credit rating, pressured rate-sensitive shares.

The Dow Jones Industrial Average fell 87.96 points, or 0.25 per cent, at the open to 35,194.56.

The S&P 500 opened lower by 19.12 points, or 0.42 per cent, at 4,494.27, while the Nasdaq Composite dropped 73.69 points, or 0.53 per cent, to 13,899.76 at the opening bell. REUTERS