LUN:CC - High Rates Pressure Markets NASDAQ Falters

The NASDAQ Composite fell Tuesday as an uptick in rates put pressure on the tech-heavy index.

The Dow Jones Industrials jumped 87.53 points to 32,519.61.

The S&P 500 faded 2.71 points to 3,974.82.

The NASDAQ lost 63.63 points to 11,705.20.

Regional banks rose Tuesday, with First Republic taking on 1%. New York Community Bancorp shares rose 0.8%.

A slew of positive news reports helped lift sentiment on Wall Street Monday, including First Citizens BancShares' agreement to buy large parts of Silicon Valley Bank. Further, there were media reports that deposit flows out of small institutions and into banking behemoths have slowed.

Prices for the 10-year Treasury dropped a bit, raising yields to 3.56% from Monday's 3.54%. Treasury prices and yields move in opposite directions.

Oil prices added 46 cents to $73.27 U.S. a barrel.

Gold prices gathered $14.30 to $1,968.10 U.S. an ounce.