new York The US stock exchanges slipped after positive economic data and the resulting fears of interest rate hikes. The Dow Jones index of standard values closed 2.1 percent lower on Tuesday at 33,129 points. The tech-heavy Nasdaq fell 2.5 percent to 11,492 points. The broad S&P 500 lost two percent to 3997 points. Wall Street was closed for a holiday on Monday.
Positive economic data sparked fears of rate hikes after the long weekend. The purchasing managers’ index (PMI) rose to 50.2 points from 46.8 in January, the highest level in eight months. As a result, government bonds flew out of the depots. The yield on the 10-year US Treasury bond rose eight basis points to 3.919 percent. In the course of trading, the yield had temporarily risen to its highest level since the beginning of November.
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