The tech-heavy Nasdaq dropped at the open on Thursday as bond yields hit 14-month highs after the Federal Reserve pledged to tolerate inflation and keep monetary policy loose through 2023.
The Dow Jones Industrial Average gained 37.2 points, or 0.11%, at the open to 33,052.85. The S&P 500 fell 19.6 points, or 0.50%, at the open to 3,954.31, while the Nasdaq Composite dropped 178.0 points, or 1.32%, to 13,347.11 at the opening bell.