Stock market today: Dow sinks nearly 400 points, yields rise to 2024 highs – Yahoo Finance

US stocks opened lower on Tuesday, signaling another day in the doldrums as healthcare insurers tumbled and investors faced the chance that an interest rate cut will come later than hoped.The Dow Jones Industrial Average (^DJI) slipped almost 1%, or over nearly 400 points, setting the blue-chip index back from a bid to reach the key 40,000 level. The S&P 500 (^GSPC) shed 0.8%, while the tech-heavy Nasdaq Composite (^IXIC) fell 1.2%.US bonds continued to struggle, as the yield on the benchmark 10-year Treasury (^TNX) rose to around 4.38%, hovering at its

highest levels of 2024.Stocks have made a lackluster start to the second quarter after racking up a string of records in the first months of 2024. Hotter-than-expected manufacturing readings, which came alongside increases in prices paid, have given weight to growing doubts the Federal Reserve will cut rates in the first half of the year as the US economy shows surprising resilience.In economic news, the new data from the Bureau of Labor Statistics showed job openings were roughly flat in February while hiring ticked up slightly. The market will also listen out for commentary from Fed officials Michelle Bowman, Loretta Mester, and Mary Daly for clues to whether its inflation problem could derail the three rate cuts planned.A pullback in health insurer stocks dragged on the markets early on Tuesday, after US regulators surprised the industry by failing to boost payments for private Medicare plans as usual. Humana (HUM) shares fell about 10%, while CVS (CVS) shed almost 6%.In single stock moves, Tesla (TSLA) stock stumbled about 6% after the company delivered fewer cars than expected in the first quarter.