Dow35368.47-543.34(-1.51%)Nasdaq14506.89-386.86(-2.60%)SP 5004577.11-85.74(-1.84%)10-yr Note -26/321.874NYSEAdv 516 Dec 2818 Vol 1.0 blnNasdaqAdv 817 Dec 3602 Vol 5.0 bln Industry Watch Strong: EnergyWeak: Information Technology, Financials, Communication Services Moving the Market -- Interest rates jump on expectations for four rate hikes this year amid inflation pressures -- 2-yr yield tops 1.00%, 10-yr yield flirts with 1.88%-- Goldman Sachs (GS) misses EPS estimates amid higher compensation costs Stocks drop due to rising rates and Goldman Sachs EPS missDow -543.34 at 35368.47, Nasdaq -386.86 at 14506.89, S&P -85.74 at 4577.11 [BRIEFING.COM] The S&P 500 fell 1.8% on Tuesday amid anxiety surrounding rising interest rates, as well as some concerns about corporate earnings. The Nasdaq Composite (-2.6%) and Russell 2000 (-3.1%) suffered steeper losses while the Dow Jones Industrial Average fell 1.5%. Ten of the 11 S&P 500 sectors closed lower with losses ranging from 0.7% (real estate) to 2.5% (information technology). The energy sector (+0.4%) was the exception, extending its monthly gain to roughly 17%, amid another 2% increase in oil prices ($85.48, +1.61, +1.9%). The first issue for the market today was the persistent rise in Treasury yields, which signaled growing expectations for the Fed to hike rates four times this year -- including a potential 50-bps increase in March -- to keep inflation in check. The 2-yr yield jumped seven basis points to 1.03%, the 10-yr yield jumped nine basis points to 1.87%, and the 30-yr yield jumped seven basis points to 2.18%. The U.S. Dollar Index increased 0.5% to 95.76. Inflation angst was fueled by the increase in oil prices, which was a byproduct of tensions in Europe and the Middle East. Goldman Sachs ($GS 354.40, -26.54, -7.0%) was the second problem today, as shares fell 7% after missing EPS estimates amid a sharp increase in compensation expenses. Rising wages have previously been cited as a potential headwind for corporate earnings, so to see that play out negatively in Goldman's case might have fueled concerns about this being a pain point for this earnings season. The latter could explain why selling interest was almost indiscriminate. Growth stocks (big and small) may have led the retreat, but value stocks (excluding energy) also did poorly. The Russell 3000 Index fell 2.4%, and the Russell 3000 Value Index fell 1.5%. Apart from inflation pressures, risk sentiment was curbed by deteriorating technical factors and a negative reading in the Empire State Manufacturing Survey for January, which dropped to -0.7 (Briefing.com consensus 25.0) from 31.9 in December. The Nasdaq Composite closed below its 200-day moving average (14730) for the first time since April 2020. Separately, Microsoft ($MSFT 302.65, -7.55, -2.4%) announced an acquisition of Activision Blizzard ($ATVF 82.31, +16.92, +25.9%) for $68.7 billion, or $95.00 per share, in cash. Reviewing Tuesday's economic data: The Empire State Manufacturing Survey for January dropped to -0.7 (Briefing.com consensus 25.0) from 31.9 in December.The NAHB Housing Market Index for January decreased to 83 (Briefing.com consensus 84) from 84 in December. Looking ahead, investors will receive Housing Starts and Building Permits for December and the weekly MBA Mortgage Applications Index on Wednesday. Dow Jones Industrial Average -2.7% YTDS&P 500 -4.0% YTDRussell 2000 -6.6% YTDNasdaq Composite -7.3% YTDSource: (Briefing.com) Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page. .