In the bond market, Treasury yields held a bit steadier after tumbling in recent months on worries about the U.S. economy. The yield on the 10-year Treasury rose to 4.26% from 4.22% late Monday. In January, it was nearing 4.80%.

In today's big story, Wall Street assumed that the stock market would act as a check on Donald Trump's new administration. That isn't panning out. What's on deck Markets: February was a bad month for big-name hedge funds.