Most U.S. stocks slipped as Treasury yields climbed again on rising expectations that interest rates may stay high for a while.
The S&P 500 fell 0.2 percent Tuesday. The Dow Jones Industrial Average rose 0.2 percent, and the Nasdaq composite fell 0.1 percent.
UnitedHealth helped support the market after jumping on a stronger-than-expected profit report. But the majority of stocks weakened after two top officials at the Federal Reserve warned it may not cut interest rates for a while after inflation reports this year came in worse than expected. The two-year Treasury yield briefly climbed as high as 5 percent before paring its gain.
On Tuesday:
The S&P 500 fell 10.41 points, or 0.2 percent, to 5,051.41.
The Dow Jones Industrial Average rose 63.86 points, or 0.2 percent, to 37,798.97.
The Nasdaq composite fell 19.77 points, or 0.1 percent, to 15,865.25.
The Russell 2000 index of smaller companies fell 8.23 points, or 0.4 percent, to 1,967.48.
For the week:
The S&P 500 is down 72 points, or 1.4 percent.
The Dow is down 184.27 points, or 0.5 percent.
The Nasdaq is down 309.84 points, or 1.9 percent.
The Russell 2000 is down 35.70 points, or 1.8 percent.
For the year:
The S&P 500 is up 281.58 points, or 5.9 percent.
The Dow is up 109.43 points, or 0.3 percent.
The Nasdaq is up 853.90 points, or 5.7 percent.
The Russell 2000 is down 59.60 points, or 2.9 percent.
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