A Delicate Balance: Dow Dips 30 Points as Bonds Sink Stocks

Stocks fell today in tandem with U.S. Treasury bonds , raising concerns that the market might not be able to withstand higher interest rates. The S&P 500 fell 0.3% to 2,133.04 today, while the Dow Jones Industrial Average declined 29.65 points, or 0.2%, to 18,169.68. The Nasdaq Composite fell 0.7% to 5,215.97. 10-year Treausry notes fell as their yields rose to 1.843%, its highest close since June (price moves in opposite direction of yields). Despite fears that rising rates could sink stocks, that's been a rare occurrence, says Convergex's Nicholas Colas :