Wall Street Opens Lower as Bond Yields Stay High

A street sign for Wall Street is seen outside of the New York Stock Exchange (NYSE) in New York City, N.Y., on June 28, 2021. (Andrew Kelly/Reuters)

U.S. stocks opened lower on Monday as Treasury yields continued to rise on expectations of a tighter monetary policy, while Bank of America wrapped up earnings from Wall Street lenders with a better-than-expected quarterly profit.

The Dow Jones Industrial Average fell 39.74 points, or 0.12 percent, at the open to 34,411.49. The S&P 500 opened lower by 6.96 points, or 0.16 percent, at 4,385.63, while the Nasdaq Composite dropped 31.69 points, or 0.24 percent, to 13,319.39 at the opening bell.