Nasdaq, Dow and S&P 500 open lower, marking third day of declines

US stocks opened in the red again on Monday, extending a losing streak to three consecutive sessions as rising bond yields and surging oil prices pushed investors deeper into risk-off mode. The S&P 500 futures pointed to a decline of roughly 0.5% at the open, continuing a trend that has rattled portfolios heading into late August. What the numbers look like The prior session set the stage for Monday’s weakness. On August 17, the S&P 500 dropped 0.52% to close at 7,745.06. The Dow Jones Industrial Average shed 272.63 points, or 0.51%, finishing at 53,459.78. The Nasdaq Composite fared slightly better in relative terms, falling 0.32% to 26,644.91. But the bond market is where the real action is happening. The 30-year Treasury yield surged to 5.32%, its highest level since 2007. The 10-year yield crept toward 4.72%. For context, that 30-year number means the US government is paying more to borrow money for three decades than it has at any point in nearly two decades. When yields rise that aggressively, it reprices virtually everything. Companies that rely on cheap borrowing to fund growth suddenly look more expensive. Discounted cash flow models, the backbone of how analysts v...