All three market benchmarks slipped lower on Tuesday as concerns from a hotter-than-expected inflation report outweighed strong second-quarter earnings from JPMorgan Chase (JPM  ), Goldman Sachs (GS  ) and PepsiCo (PEP  ).

The market's backslide came as the 10-year U.S. Treasury yield jumped more than 4 basis points, or 0.04%, and crossed the 1.4% level in a delayed reaction to the latest numbers on inflation.

Here's how the market settled on Tuesday:

S&P 500 Index (SPY  ): -0.35% or -15.35 points to 4,369.28

Dow Jones Industrial Average (DIA  ): -0.31% or -106.93 points to 34,889.25

Nasdaq Composite Index (QQQ  ): -0.38% or -55.59 points to 14,677.65

Google fined 500 million euros by French antitrust regulators:

Google (GOOGL  ) was fined 500 million euros ($593 million) Tuesday by French antitrust regulators for failing to comply with a previous order to negotiate fair deals with news publishers for the use of their content.

France's Competition Authority said Google had breached an April 2020 ruling that ordered the company to negotiate licensing deals with publishers and news agencies for any reuse of copyrighted content.

Back in January, Google agreed to a major digital copyright deal with French publishers. Under that deal, Google said it would negotiate individual licences with members of France's press alliance covering related rights and access to a new service called News Showcase.

Mastercard and Verizon launch 5G contactless payments initiative:

Mastercard (MA  ) and Verizon (VZ  ) announced a new partnership on Tuesday focused on 5G contactless payments for consumers and small- to medium-sized businesses. The pair expect to produce some innovations by 2023.

The collaboration aims to enable businesses to use emerging payment technologies to turn smartphones in to cash registers, to turn wearables like watches as payment devices, and to facilitate touchless retail similar to Amazon (AMZN  ) Go stores, CNBC reports.

Here's how the market began trading after opening bell:

S&P 500 Index: -0.16% or -6.87 points to 4,377.76

Dow Jones Industrial Average: -0.08% or -28.48 points to 34,967.70

Nasdaq Composite Index: -0.14% or -20.01 points to 14,709.58

Core consumer prices jumped by the most in three decades in June:

The Labor Department's June consumer price index (CPI) increased at a faster-than-expected rate both over last month and last year, with price increases accelerating from ongoing supply chain disruptions and labor shortages.

Headline consumer prices rose 0.9% in June over May, rising from May's 0.6%. Over last year, CPI rose 5.4% versus the 4.9% increase anticipated, marking the biggest rise since 2008.

Much of the rise in CPI came as used car prices climbed further, gaining 10.5% in June to account for more than one-third of the total rise. Indices tracking food and energy prices also gained by 0.8% and 1.5%, respectively.

The core consumer price index, which excludes food and energy prices, rose 4.5% over last year in June, marking the fastest rise since 1991.