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Verizon down after missing Q3 revenue estimates

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GE Aerospace drops as supply constraints drag on revenue

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General Motors ( GM ) up after Q3 results beat estimates

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Indexes down: Dow 0.36%, S&P 500 0.38%, Nasdaq 0.28%

(Updated at 09:50 a.m. ET/ 1350 GMT)

By Lisa Pauline Mattackal and Purvi Agarwal

Oct 22 (Reuters) -

U.S. stock indexes sagged on Tuesday as rising Treasury

yields impacted rate-sensitive sectors, while investors

evaluated earnings to assess the health of American companies.

Verizon was the biggest decliner on the blue-chip Dow

after the telecom giant missed estimates for third-quarter

revenue with a 4.9% loss.

Adding to losses, Dow heavyweight 3M ( MMM ) slipped

0.6%, reversing its premarket gains, despite raising the lower

end of its full-year adjusted profit forecast.

The Dow Jones Industrial Average fell 153.09 points,

or 0.36%, to 42,778.51, the S&P 500 lost 22.04 points, or

0.38%, to 5,831.94, and the Nasdaq Composite lost 52.19

points, or 0.28%, to 18,487.82.

Pressuring equities, U.S. Treasury yields rose as investors

assessed the impact of the upcoming presidential election on

fiscal policy. They also waited to gauge the effect of a robust

economy on the Federal Reserve's policy trajectory.

The yield on the benchmark 10-year note rose as

high as 4.222%, continuing a steady climb since early October,

after a bumper jobs report led investors to dial back

expectations for the central bank to ease interest rates through

the year.

Rate-sensitive megacap stocks slipped, with Apple ( AAPL )

falling 1.2% and Nvidia ( NVDA ) down 0.5%, weighing on the

broader tech sector, which lost 0.3%.

Consumer Discretionary shares were bogged down

by a 1% and 0.6% decline in Tesla and Amazon.com ( AMZN )

, respectively.

Stocks retreated from record highs on Monday as investors

took a breather following six consecutive weeks of advances for

major indexes, even as gains in Nvidia ( NVDA ) helped the Nasdaq edge

higher.

"We set all these new highs with a sense of nervousness.

That's for three primary reasons: a lot of conflicts around the

world at the moment, the Fed and what they're going to do next

and the election... (have) people a bit more unsure of what's

next," said J.J. Kinahan, CEO, IG Group North America.

The next few weeks are likely to be volatile for equity

markets, as investors scrutinize company earnings, fresh

economic data and the results of the U.S. election, followed by

a central bank meeting.

Traders are pricing in an 89.6% chance of a

25-basis-point interest-rate cut in November, according to CME's

FedWatch.

GE Aerospace fell 6.3% despite raising its profit

forecast for 2024, as persistent supply constraints impacted its

revenue, highlighting the difficulty some companies may face in

trying to impress investors this year.

It pulled the broader Industrials index 1% lower.

General Motors ( GM ) gained 7.3% after the legacy

carmaker's third-quarter results beat Wall Street estimates,

while Lockheed Martin ( LMT ) dipped 4% after results.

Baker Hughes ( BKR ) and Texas Instruments ( TXN ) are

scheduled to report earnings after the bell.

Estimated third-quarter year-over-year earnings growth for

the S&P 500 is 6.5%, excluding the Energy sector, and 4%

overall, according to LSEG data.

The economically sensitive small-cap Russell 2000

lost 0.4%.

Declining issues outnumbered advancers by a 1.81-to-1 ratio

on the NYSE, and by a 1.6-to-1 ratio on the Nasdaq.

The S&P 500 posted five new 52-week highs and two new

lows, while the Nasdaq Composite recorded 25 new highs and 25

new lows.