S&P 500 closes lower, Nasdaq sheds 1% as bond yields pop; European markets advance as upbeat sentiment continues 
The S&P 500 fell Tuesday, at the start of the holiday-shortened week, as bond yields climbed and investors weighed the economic outlook for 2023. 
The Dow Jones Industrial Average rose 37.63 points, or 0.11%, to finish at 33,241.56. The S&P 500 fell 0.4% to settle at 3,829.25, while the Nasdaq Composite shed 1.38% to end at 10,353.23. 
China-linked stocks advanced as the country loosened Covid restrictions. Tesla dropped more than 11% on news of an extended production pause, with the stock on pace for its worst year ever. Southwest shed nearly 6% as the airline canceled thousands of flights. 
Bond yields also pushed higher, putting pressure on growth stocks like technology. The yield on the 10-year Treasury note was last up nearly 11 basis points to trade at 3.85%. Apple’s stock was among the worst performers in the Dow, falling to levels not seen since June 2021 and closing 1.4% lower. 

Germany’s DAX ended the day 0.39% higher, while France’s CAC 40 added 0.7%. Italy’s FTSE MIB ticked lower by about 0.09%. The U.K.’s FTSE index is closed Tuesday for a public holiday. 
Source: CNBC, Investing.com