Dow snaps eight-day advance as Treasury yields rise

U.S. stocks fell on Tuesday, ending the Dow’s eight-day winning streak as a mixed earnings report from Home Depot and rising Treasury yields weighed on the market.

The Dow Jones Industrial Average slipped 193 points, or 0.78%, to 24,706.41, returning to negative territory for the year. The S&P 500 fell 18.68 points to 2,711.45. The Nasdaq Composite was down 59.69 points, or 0.81%, at 7,351.63.

Home Depot dragged the 30-member Dow lower after the home-improvement retailer reported weaker first-quarter sales than expected. The company's earnings, however, topped estimates. Shares fell 1.6%.

Investors also digested the latest retail sales, which rose for their second-straight month in April.

The rise in retail sales helped lift the 10-year Treasury yield above 3% and to its highest level since July 2011.

Other economic data included Empire State Manufacturing, which came in at 20.1 versus the consensus estimate for 15.5.

Meanwhile, the National Association of Home Builders/Wells Fargo housing market index released Tuesday showed that builder confidence in the market for newly built single-family homes rose two points to 70 in May.

Ticker Security Last Change Change %
SP500 S&P 500 5123.41 -75.65 -1.46%
I:DJI DOW JONES AVERAGES 37983.24 -475.84 -1.24%
I:COMP NASDAQ COMPOSITE INDEX 16175.094106 -267.10 -1.62%

In commodities, oil gained 35 cents to $71.31 a barrel.

Gold futures took a hit from the climbing treasury yields, settling down 2.1% at $1,290.30 an ounce, which was their lowest finish since late December, according to Factset data.

FOX Business' Ken Martin contributed to this report.