US stocks slip in mixed trading as rate pressure ratchets up

U.S. stock indexes closed lower Tuesday as another swell higher for Treasury yields added pressure on big technology stocks. The S&P 500 lost 0.3%. Banks and small-company stocks rose. The spotlight was again on the bond market, where the yield on the 10-year Treasury rose to 1.73%. Its jump this year has forced investors to reconsider paying such high prices for many stocks, particularly the tech giants that were big winners earlier in the pandemic. Yields perked higher after a report showed consumers are even more confident than economists expected.