U.S. stocks open lower amid rising yields as investors assess housing data

U.S. stocks opened lower Wednesday amid rising yields as investors assessed fresh data on the housing market. The Dow Jones Industrial Average dipped 0.4% soon after the opening bell, while the S&P 500 fell 0.5% and the Nasdaq Composite slipped 0.8%, according to FactSet data, at last check. The Commerce Department said Wednesday that construction on new U.S. homes fell a seasonally adjusted 8.1% in September while building permits for new homes rose 1.4%. Meanwhile, the yield on the 10-year Treasury note was trading up around nine basis points Wednesday morning at 4.09%, FactSet data show, at last check.

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