12:40 PM EDT, 04/02/2024 (MT Newswires) -- US benchmark stock indexes slumped by Tuesday afternoon as most government bond yields rose after a surprise increase in job openings and new orders for factory goods advanced more than forecast.

The S&P 500 dropped 1% to 5,192.2, with the Nasdaq Composite down 1.3% to 16,183.5, and the Dow Jones Industrial Average 1.2% lower at 39,104.3. Except for energy and utilities, all the other sectors declined intraday. Health and consumer discretionary led the steepest decliners.

The US Treasury 10-year yield rose 3.4 basis points to 4.36%.

In economic news, US job openings rose to 8.756 million in February, according to the Bureau of Labor Statistics, above the 8.73 million openings expected in a survey compiled by Bloomberg and up from the 8.748 million openings reported in January.

New orders for US factory goods gained 1.4% in February, above expectations for a 1% increase in a survey compiled by Bloomberg and following a revised 3.8% drop in January.

In company news, Humana (HUM) slumped 14.6% intraday, UnitedHealth Group (UNH) dropped 7.8%, and CVS Health (CVS) slid 9% following the Centers for Medicare and Medicaid Services' declaration of a 3.7% average revenue boost for Medicare Advantage plans in 2025. Humana and CVS were the two worst-performing stocks in the S&P 500. UnitedHealth was the laggard on the Dow.

Meanwhile, General Electric ( GE ) said it completed the separation of its renewable energy business, GE Vernova (GEV), marking the end of a multi-year transformation of the conglomerate. Shares of GE rose 1.2% intraday, the top performer on the S&P 500.

West Texas Intermediate crude oil jumped 1% to $84.56 a barrel.