US Treasury yields fell on Tuesday as equity market selling resumed once again.
The yield on the benchmark 10-year Treasury fell 4 basis points to 2.813%. The 30-year Treasury bond yield fell 4 basis points to 3.024%. Yields move inversely to prices and 1 basis point equals 0.01%.
The moves came as U.S. stocks resumed selling, following a relief rally on Monday. The Dow Jones Industrial Average fell 172 points, or 0.5%. The S&P 500 lost 1.4% and the tech-heavy Nasdaq Composite fell 2.7%.
Investors remain concerned about rising inflation and are watching how the Federal Reserve tries to quell inflationary pressures.
The Fed has already hiked rates twice this year, and one of those rate hikes was 50 basis points.
Fed Chairman Jerome Powell is scheduled to deliver the welcome address at the National Center for American Indian Enterprise Development 2022 Reservation Economic Summit at 12:20 p.m. ET.
The effects of rising inflation on the economy and how it affects the data are being watched closely by investors, given growing fears of a recession.