U.S. stocks slipped from an all-time high after worries over rising interest rates sparked a selloff in tech shares. Treasuries fell and the yen dropped to the lowest since 2017.
The S&P 500 was little changed Tuesday as data showed mixed signs on U.S. inflation ahead of three expected rate hikes from the Federal Reserve this year. Prices paid by manufacturers in December came in sharply lower than expected, adding to signs inflationary pressure may have peaked in some areas. However, data showing a record U.S. job quit rate added to concerns over wage inflation.