EDITOR'S NOTE
Major technology shares dragged down the broader market on Tuesday after the 10-year Treasury yield touched its highest level since January 2020.
The Dow Jones Industrial Average slipped about 100 points from a record closing high. The S&P 500 closed 0.3% lower. The Nasdaq Composite dipped 0.1% as Apple and Microsoft both fell more than 1%. The tech-heavy benchmark was down more than 1% at one point. 
The yield on the 10-year Treasury note climbed 6 basis points to top 1.77% earlier Tuesday, the highest level in 14 months as Covid vaccine rollouts and anticipated infrastructure spending boosted expectations for a broad economic recovery and rising inflation.
Classic reopening plays rallied, however, after a reading on consumer confidence far exceeded expectations. The Conference Board's consumer confidence index surged in March to 109.7, its highest reading in a year. Economists polled by Dow Jones expected the index to rise to 96.8 from 90.4 in February.
American Airlines jumped 5.3%, while United Airlines popped more than 3.5%. Carnival rose 3.9%, while Norwegian Cruise Line climbed 3.8%.
President Joe Biden is expected to provide details about his infrastructure plan when he travels to Pittsburgh on Wednesday. The spending package could cost north of $3 trillion.
Wild swings could hit the market later this week when pension funds and other big investors conduct their quarter-end rebalancing. The recent jump in bond yields may set up money managers for big moves in their portfolios. TOP NEWS
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