S&P 500 falls for 5th day | Highest yield on 10-year Treasury since 2011 | Fed rate hike on the horizon

Stocks seesawed between gains and losses on Tuesday.

VIEW IN BROWSER | SUBSCRIBE TUE, JUN 14, 2022 EVENING BRIEF AS OF TUE, JUN 14, 2022 • 05:06 ET DJIA 30364.83 -0.50% -151.91 S&P 500 3735.48 -0.38% -14.15 NASDAQ 10828.35 +0.18% +19.12 Most Active DOW NAME LAST CHG %CHG AAPL 132.76 +0.88 +0.67% INTC 37.93 +0.16 +0.42% MSFT 244.49 +2.23 +0.92% S&P 500 NAME LAST CHG %CHG AAPL 132.76 +0.88 +0.67% AMD 86.99 UNCH UNCH F 12.20 +0.39 +3.30% NASDAQ NAME LAST CHG %CHG AAPL 132.76 +0.88 +0.67% AMD 86.99 UNCH UNCH AMZN 102.31 -1.36 -1.31% EDITOR'S NOTE Stocks seesawed between gains and losses on Tuesday ahead of the latest hiking decision from the Federal Reserve.   Traders expect the central bank on Wednesday to hike rates by 75 basis points, up from the widely anticipated 50 basis-point increase in an effort to curb climbing prices.     The nail-biting anticipation sent rates surging yet again, with the 10-year Treasury yield rocketing toward a fresh 11-year high.   Chaos in the bond market only fueled further volatility in equities. Traders were left wondering how much higher can rates rise as the Fed tries to subdue surging inflation. "The Federal Reserve is still way behind where the market is bringing rates," said Timothy Lesko of Mariner Wealth Advisors. "Even if the Federal Reserve were to raise by the now-expected 75 basis points and a couple of 50 or 75 basis-point increases, the market is ahead of the Fed pretty significantly."   Cliff Corso of Advisors Asset Management echoed similar sentiment, noting that the bond market is indicating that inflation is "going to be high and sticky."   "We stay biased towards higher yields for now, particularly at the front-end," wrote Credit Suisse's David Sneddon.   Samantha Subin | Associate Markets Reporter @samantha_subin Watch our live stream for all you need to know to invest smarter. TOP NEWS  S&P 500 falls for a fifth day, slips deeper into bear market territory ahead of Fed decision 10-year Treasury yield tops 3.48%, the highest in 11 years 30-year mortgage rate surges to 6.28%, up from 5.5% just a week ago Natural gas plummets as Freeport delays facility restart following explosion The Fed's balance sheet reduction officially starts Wednesday. Here's how it works Leon Cooperman calls for a recession next year, expects S&P to drop 40% from January's all-time high These ETFs allow the regular investor to play offense during a bear market like a hedge fund Texas power demand breaks record as severe heat wave hits the state EU looks for natural gas alternative to Russia; fighting rages in Severodonetsk Caterpillar to move global headquarters to Texas TOP VIDEO The end point of the federal funds rate is what matters most, says Goldman's Jan Hatzius CNBC PRO Buy stocks exposed to the high-end consumer in inflationary times, UBS says SPECIAL REPORTS Coinbase cuts 18% of workforce and bitcoin briefly falls to $20,000: CNBC Crypto World Apple continues push into live sports with Major League Soccer deal Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy © 2022 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS