Nasdaq falls a second day | Oil stocks rise as Biden says U.S. will tap reserves | BofA's 2022 prediction for stocks

Another rise in Treasury yields on Tuesday helped to create a divide in the stock market.

VIEW IN BROWSER | SUBSCRIBE TUE, NOV 23, 2021 EVENING BRIEF AS OF TUE, NOV 23, 2021 • 04:53 ET DJIA 35813.80 +0.55% +194.55 S&P 500 4690.70 +0.17% +7.76 NASDAQ 15775.14 -0.50% -79.62   Most Active DOW NAME LAST CHG %CHG AAPL 161.41 +0.39 +0.24% INTC 49.10 -0.73 -1.47% MSFT 337.68 -2.15 -0.63% S&P 500 NAME LAST CHG %CHG AAPL 161.41 +0.39 +0.24% F 20.20 -0.28 -1.37% AMD 149.92 -2.60 -1.70% NASDAQ NAME LAST CHG %CHG AAPL 161.41 +0.39 +0.24% AMD 149.92 -2.60 -1.70% NVDA 317.46 -2.10 -0.66%   EDITOR'S NOTE Another rise in Treasury yields on Tuesday helped to create a divide in the stock market, with high-growth tech stocks sliding while bank and energy names moved higher.    That split makes this week something like a microcosm of 2021 as a whole, which has seen energy outperform while some of the top stocks during the pandemic, such as Zoom Video, have deflated. Cathie Wood's Ark Innovation ETF, which holds many stocks in the high-growth bucket, fell more than 2% on Tuesday.    Rising rates are seen as bad news for high-growth stocks, as they make future earnings less appealing, but the size of the recent moves means that some of these declines may be reaching their endpoint, said Stephanie Link, chief investment strategist and portfolio manager at Hightower Advisors. "You don't really want to have long-dated assets. You don't really want to have high-multiple growth stocks in that kind of environment. All this being said, some of these high-growth stocks are down 50, 60, 70%. I'm not involved in any of them, that's not my style, but at some point they're going to get interesting," Link said.  On the other hand, Link said that the high concentration of the S&P 500 — with 10 stocks making up more than 30% of the index — suggested that some of the biggest trades were crowded, potentially creating downside pressure for some of the market's most successful stocks.    "I think they're very well owned, I think they've had an enormous run. Could they be vulnerable? Yeah, sure. I'm not saying crash by any means, but that's a big stat," she said.  Jesse Pound | CNBC Markets Reporter @jesserpound Watch our live stream for all you need to know to invest smarter. TOP NEWS  Dow climbs nearly 200 points but Nasdaq falls again as rising rates divide the market U.S. to release oil from reserves in coordination with other countries to lower gas prices Jury holds CVS, Walgreens and Walmart responsible for role in opioid crisis Biden administration asks federal appeals court to immediately lift pause on business vaccine mandate Best Buy CEO says the trauma from rising retail thefts could force employees to quit 'Vaccinated, recovered or dead': Germany gives stark winter warning to its people Apple sues company known for hacking iPhones on behalf of governments Bank of America sees a market similar to 2000, predicts a small decline for stocks in 2022 A fight in Washington over the debt ceiling looms, which could create market volatility Turkish lira crashes to 'insane' historic low after President Erdogan sparks sell-off   TOP VIDEO Investors could see the rise of a value market over a growth market, Hightower's Link says   CNBC PRO This fintech lender's shares surged nearly 390% in the past year. Its CEO sees 'sustained growth' ahead   SPECIAL REPORTS Blockbuster art week sets record with more than $2.6 billion in sales Avoid these 3 holiday scams on Black Friday and Cyber Monday   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2021 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