bed bath  beyond shares slump after death of cfo stocks swung lower tuesday afternoon leaving the nasdaq composite on track for its longest losing streak since 2016 as high energy prices rising treasury yields and a stronger dollar weighed on equities major stock indexes fell for a third straight week on friday with the dow posting a 3 weekly decline the sp 500 declining more than 3 and the nasdaq composite shedding 42 lingering concerns about the economic fallout from a european energy crisis were again in focus on tuesday as was the federal reserves determination to dampen inflation by aggressively hiking interest rates meanwhile rising treasury yields and a stronger dollar were seen weighing particularly on the nasdaq which was on track for its ninth consecutive day in the red if it does finish lower this would mark the longest losing streak for the techheavy index since nov 4 2016 theres not a lot of demand for stocks right now people are nervous as for the causes i think part of it is psychology partly the strong dollar and partly higher bond yields  theyre all part of the recipe here said steve sosnick chief strategist at interactive brokers the higher yields and stronger dollar were both particularly negative for megacap tech stocks like apple inc aapl meta platforms inc meta and amazoncom inc amzn weve seen an inverse relationship between tech stocks and longterm bond yields based on the notion that tech stocks are the ultimate longduration asset as yields spike it creates big headwinds for stocks in general and the leading tech stocks in particular sosnick added yields climbed across the treasury curve  but longdated bonds saw the biggest moves with the 10year yield up 135 basis points at 3332 meanwhile the ice us dollar index was back above 110 right around its strongest level in two decades investors received some good news on the economicdata front as the institute for supply management said its services index rose to 569 in august from 567 in the prior month  the highest level since april economists polled by the wall street journal had expected the index to drop to 555 but it did little to help bail out stocks see us ism servicessector index hits highest level in four months as stocks head lower on tuesday market strategists wondered whether the market was headed for a retest of the june lows  especially considering septembers status as historically the worst month of the year for markets bulls hoping for a rebound will be doing so during a shortened labor day week that historically has paralleled september and its track record of underperformance losses have been slightly less frequent over the past three decades but volatility has been higher said chris larkin managing director for trading at etrade from morgan stanley seethe psychology has changed so quickly why stockmarket lows may be retested as sp 500 enters its weakest stretch of year us equities had initially bounced on friday after the august nonfarm payrolls report was deemed not so strong that it would encourage the fed to become even more aggressive in hiking interest rates but news later in the day that russia would indefinitely shutdown the main gas pipeline to europe thereby adding to the chances of a sharp economic slowdown on the continent pushed the sp 500 back towards its lowest level since late july and those concerns continued to reverberate across markets on tuesday even as the new prime minister liz truss promised immediate relief for high energy bills in the uk in other news goldman sachs chief economist jan hatzius offered a cautiously optimistic note on the ability of the federal reserve to deliver a socalled soft landing of the us economy averting recession as it continues to raise interest rates and otherwise tighten monetary policy