
S&P 500 Posts Third Straight Loss as Surging Bond Yields Pressure Equity Valuations
U.S. equity markets fell for a third consecutive session on Tuesday as a deepening bond market selloff pushed long-term Treasury yields to levels not seen in nearly two decades, eroding the valuation case for growth stocks and reigniting debate over whether the Federal Reserve could be forced to raise interest rates before year-end. The Session in Numbers The S&P 500 closed at 7,353.61, down 0.67% on the day and its third consecutive losing session — a stretch of sustained pressure that has chipped away at a more than 15% rally the index had built since its March low. The Nasdaq Composite fell 0.84% to 25,870.71, weighed down by continued selling in megacap technology. The Dow Jones Industrial Average shed 322.24 points, or 0.65%, to close at 49,363.88, with Cisco Systems and Boeing among the session’s sharpest decliners. The Russell 2000 small-cap index bore the widest damage, falling more than 1% to its lowest closing level since April 2026. Small-cap companies carry a disproportionate share of floating-rate debt and tend to depend more heavily on access to credit than their large-cap peers, making them acutely sensitive to a rising rate environment. The index’s underperformance relative to large caps is an early













































