5 things to know before the stock market opens Wednesday

5 things to know before the stock market opens Wednesday

1. Nasdaq set to rebound from 2.8% drop as bond yields moderate higher in Wednesday's premarket as the runup in . The 10-year Treasury yield's spike to three-month highs above 1.567% Tuesday. The lost 2.8%. Big Tech and growth names are sensitive to higher rates since their high valuations are based on future growth and cash flow. The lost 2%. The sank 569 points, or 1.6%. With two days left in September, the Dow was down 3%; the S&P 500 was off than 3.7%; and the Nasdaq was nearly 4.7% lower in the historically nasty month for stocks. 2. Biden digs in on $3.5 trillion plan as shutdown and debt default loom President canceled a trip to Chicago that was supposed to focus Covid vaccinations so he can stay at the White House for his party's $3.5 trillion budget plan. Democratic leaders want to use their slim majorities in the House and Senate to pass the package of social safety-net spending without GOP support. 3. Nearly 600 United employees face termination over Covid vaccine mandate Airlines said 593 employees for failing to comply with the carrier's Covid vaccination policy, one of the strictest mandates from a U.S. company. More than