News Snapshot:
NEW YORK (AP) — Stocks are opening lower and Treasury yields are snapping higher after the government reported that wages for U.S. workers are accelerating faster than expected. Friday’s report raised concerns that inflation may prove to be even stickier than feared, which could hinder the Federal Reserve from easing back on its big interest-rate hikes. The higher rates are meant to fight inflation by putting the brakes on the economy. The S&P 500 fell 1%. The yield on the two-year Treasury, which tends to track expectations for future Fed action, spiked to 4.36% from 4.19% just before the jobs...
