Stocks Slide as Rates Rise, Though Retail Sales Beat Expectations

Major market averages started lower Tuesday after rally to open week. Nasdaq off 0.4%, S&P 500 down 0.1%, Dow down 0.1%.

Rates continued climbing higher. 10-year Treasury yield rose 12 basis points to 4.83%. 2-year yield up 9 basis points to 5.18%.

September retail sales showed strong consumer, arriving at +0.7% vs +0.3% expected. Core retail +0.2% in-line.

Industrial production also beat, up 0.3% vs 0.1% forecasted.

NY Fed's Williams speaking at Economic Club of NY today on economic outlook.