The markets are opening the second quarter on a rough note as bond yields are rising and traders had lower expectations that the Federal Reserve will cut interest rates in June bringing the markets down. The 30-stock Dow dropped nearly 400 points for its second straight losing session with the S&P 500 dropping 0.7%, while the Nasdaq Composite fell nearly 1%. Investors will be watching the ADP Private Payrolls report released on Wednesday ahead of March jobs data on Friday.