Stocks are getting smoked

Stocks opened in the red on Tuesday after snapping a two-day streak of gains on Monday.

Near 9:45 am ET on Tuesday, the Dow was down 164 points, the S&P 500 was down 18 points, and the Nasdaq was down 58 points.

US Treasuries continued their recent sell off, with the yield on the benchmark 10-year note gaining one basis point, or 0.01, to 2.28%. The yield on the long 30-year bond was at 3.05%, the highest since early November.

European stocks also tumbled on Tuesday, with every major index on the continent falling more than 1%.

The big company news today is Verizon’s acquisition of AOL for $US4.4 billion, or $US50 per share. That’s a 17% premium over AOL’s Monday closing price of $US42.59.

In early trading, AOL shares rose 17% to around $US50.13 per share, after surging in pre-market trading. Verizon shares fell around 1%.

In economic data, the NFIB small business optimism report rose to 96.9, beating the forecast for a reading of 96, and up from 95.2 in the prior month, according to Bloomberg.

At 10:00 a.m., we’ll get the latest Job Openings and Labour Turnover Survey, or JOLTS.

NOW WATCH: Tim Armstrong Lays Out His Plan For AOL’s Future

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.