Wall St ends lower as inflation worries push up yields

STORY: Wall Street's main indexes closed lower on Tuesday, with the Dow and S&P 500 each shedding about two-thirds of a percent, and the Nasdaq losing more than eight-tenths of a percent.The benchmark 10-year Treasury yield climbed to its highest level in more than a year on mounting inflation concerns as oil prices stayed elevated... and with no clear resolution to the U.S. war in Iran.Tuesday's profit-taking also came as investors anxiously awaited quarterly results from AI chip leader Nvidia, due after Wednesday's market close.Mike Mussio is president of FBB Capital Partners."This is the third day in a row we're looking at some red on the screen. But we've had a lot of green over the past several weeks. So a few days down a percent or inside a percent or so should not be unexpected. We're in a little bit of a lull between some data that we received in terms of inflation data a week or so ago. And then tomorrow after the close, we will have Nvidia's earnings, which of course is what everybody's kind of waiting for to see what happens - which includes, are we going to continue to have the all-clear sign and move higher from there, or is it time for a little bit of additional profit-taking?"Among individual stock moves, cloud firm Akamai Technologies shed more than 6% after the company announced a $2.6 billion convertible bond offering.Shares of Home Depot closed higher after the home improvement chain beat sales and profit estimates despite warning of a cautious consumer.And shares of Target rose 3% ahead of its quarterly earnings results, scheduled before Wednesday's opening bell.

• So a few days down a percent or inside a percent or so should not be unexpected.
• We're in a little bit of a lull between some data that we received in terms of inflation data a week or so ago.