S&P 500 Opens Flat as Bond Yields Hit New Highs

A Wall Street sign outside the New York Stock Exchange in New York, on Oct. 28, 2013. (Carlo Allegri/Reuters)

The benchmark S&P 500 index opened flat on Tuesday as U.S. bond yields hit new highs on expectations of aggressive interest rate hikes, while investors awaited more earnings reports to assess the impact of inflation and the Ukraine war on companies.

The Dow Jones Industrial Average fell 17.07 points, or 0.05 percent, at the open to 34,394.62. The S&P 500 opened lower by 1.06 points, or 0.02 percent, at 4,390.63, while the Nasdaq Composite dropped 19.92 points, or 0.15 percent, to 13,312.44 at the opening bell.