Ten-year Treasury yields were hovering just shy of their highest since last May, and the 30-year yield was close to its highest since November 2023, as investors continued to show concern that President-elect Trump’s import tariff and immigration plans may revive inflationary pressures.

U.S. stock indexes are feeling the pressure from better-than-expected reports on the U.S. economy. The S&P 500 swung to a drop of 0.7% Tuesday after losing an earlier, small gain.