S&P 500 closes slightly lower as investors grow concerned about surging bond yields; European markets close mixed as risk rally cools  
The S&P 500 reversed lower in volatile trading on Tuesday, slipping from a record high as rising bond yields kept investors on edge. The broad equity benchmark erased a 0.4% gain to close 0.1% lower at 3,932.59. The tech-heavy Nasdaq Composite fell 0.3% to 14,047.50. The Dow Jones Industrial Average closed up 64.35 points, or 0.2%, to 31,522.75, eking out a record close. 
The 10-year Treasury yield jumped 9 basis points Tuesday to top 1.30%, a level not seen since February 2020. 
Elsewhere, bitcoin briefly crossed $50,000 for the first time ever Tuesday, continuing its dizzying rally as more companies warmed to the crypto space. 

European markets closed mixed Tuesday, as a global risk rally fueled by economic recovery hopes lost steam. The pan-European Stoxx 600 ended the session fractionally below the flatline, with sectors and major bourses pointing in opposite directions. 
Euro zone GDP fell by less than expected in the final quarter of 2020, with official estimates Tuesday indicating a 0.6% quarter-on-quarter contraction. Previous flash estimates had suggested a 0.7% fall. 
On the earnings front, French tire manufacturer Michelin reported a 2020 full-year net profit of 625 million euros ($758.6 million), a sharp decline from 2019′s 1.73 billion euros. However, the company projected up to 10% growth in its markets for 2021 and increased its dividends to shareholders. The company’s stock was marginally higher. 
A strong round of earnings also came from miners Glencore and BHP, with the former restoring its payments to shareholders and the latter hiking its dividend by 55%. Shares of both firms rose 2% and 1.5% respectively. 
Source: CNBC