Wall Street Falls as Treasury Yields Hit 9-Month High

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City on July 19, 2023. Brendan McDermid/Reuters

Wall Street’s main indexes opened lower on Thursday as a jump in U.S. Treasury yields, spurred partly by Fitch’s downgrade of U.S. long-term credit rating, pressured rate-sensitive shares.

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