Dow trades over 500 points lower as yields extend pop, with 2-year above 1%

U.S. stock indexes opened sharply lower Tuesday after a three-day break, in observance of Martin Luther King Jr., with the high-growth technology sector trading sharply lower at the the start of a busy week of corporate earnings report. Meanwhile, a blockbuster tech deal was also in the spotlight, after Microsoft Corp. /zigman2/quotes/207732364/composite MSFT +0.40% said it had reached an agreement to acquire Activision Blizzard Inc. /zigman2/quotes/200717283/composite ATVI -0.08% in an all-cash deal valued at $68.7 billion. The Dow was down 529 points, or 1.5%, at 35,393, the S&P 500 index /zigman2/quotes/210599714/realtime SPX -0.32% was off 1.3% at 4,600, while the Nasdaq Composite Index was off 1.7% at 14,651. The moves for stocks come as the 10-year Treasury note yields above 1.8% and the 2-year Treasury note breaches 1%.

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Add to watchlist MSFT

Microsoft Corp.

US : U.S.: Nasdaq

$ 262.16

+1.03 +0.40%

Volume: 23.62M

May 16, 2022 3:40p

P/E Ratio

27.37

Dividend Yield

0.95%

Market Cap

$1952.93 billion

Rev. per Employee

$1.06M

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Activision Blizzard Inc.

US : U.S.: Nasdaq

$ 77.68

-0.06 -0.08%

Volume: 2.26M

May 16, 2022 3:40p

P/E Ratio

24.62

Dividend Yield

0.60%

Market Cap

$60.78 billion

Rev. per Employee

$846,633

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Add to watchlist SPX

S&P 500 Index

US : S&P US

4,011.15

-12.74 -0.32%

Volume: 1.68B

May 16, 2022 3:40p