The three main US stock indexes recorded sharp declines in the opening session of the week on Tuesday, after the markets were closed on the occasion of Martin Luther King Day on Monday, leading the technology sector index Nasdaq, losing more than 250 points at the close, affected by the declines in technology shares, amid anticipation of corporate announcements.

Financial institutions reported their quarterly results for the last quarter and last year. US stocks were affected by the rise in the yield on US Treasury bonds during the opening session, as the yield on the ten-year bonds rose by more than 4% at closing at 1.875 levels, recording the highest pace of rise since January 2020, while the two-year yields exceeded the 1% levels for the first time since February 2020 coinciding with With the high expectations of the markets that we will witness a hike in the US interest rate in March, as the markets are currently pricing in an opportunity of more than 90%, according to the FedWatch CME Group tool, to raise the interest rate in March and that the increase will be by four times during the current year, which supports US bond yields and thus caused these expectations In sharp declines for US stocks due to the inverse relationship between the return and stock prices.

In terms of quarterly results, Goldman Sachs announced profits below analysts’ expectations in the fourth quarter of the year, as profits fell by 13% to $3.94 billion, with $10.81 earnings per share.

The company’s share lost more than 7% at closing and closed at $453. Morgan Stanley and Bank of America will announce their quarterly results on Wednesday, while Netflix and American Airlines will announce Thursday.

Microsoft’s stock ended the session down by about 2.43% at levels of $302, despite the news of the company’s acquisition of Activision video game company for $68.7 billion.

The Dow Jones Industrial Average closed down by (543) points at the close at 35.368 levels, a loss of about 1.51%, and is now trading in the futures for today’s session, Wednesday, at 35.089 levels, down by about 170 points.

While the S&P 500 index recorded declines at the close at 4.577 levels, down by (85) points, or 1.84%, and is now trading in futures at 4.542 levels, down by about 28 points.

While the Nasdaq index recorded declines by (386 points), to close the session at 14.506 points, recording losses of about 2.60%, and it is now trading in the futures, down by about 140 points.