Higher Treasury Yields, Strong Dollar Pressure Stocks Again

Higher Treasury yields and the dollar's strength is again a problem for stocks Wednesday. The poor reception to the 3-year Treasury auction yesterday — where yields moved up — put upward pressure on the dollar and caused materials and energy stocks to drop.

It's happening again today. The problem: some traders are coming to believe that higher rates are here to stay on a stronger economy.

China IPO Mania. Take a look at the moves today in the two big China IPOs:


Price talk: $9-$11

Priced at: $12.80

Opened at: $27.00

That's right...a 100 percent price pop!

E-Commerce China Dangdang

Price talk: $13-$15

Priced at: $16

Opened at: $24.50

This is the biggest year for Chinese IPOs — there's nearly 40 so far.

When was the last time an IPO saw a 100 percent price pop from the pricing to the open? China Digital TV on October 4, 2007, priced at $16, opened at $35. Today, it's $8.51.

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