Wednesday saw a steep decline in stocks as rising Treasury yields affected market sentiment, resulting in the Dow Jones Industrial Average recording its worst day in almost a month.
With a 0.92% loss, the S&P 500 closed at 5,797.42. The Dow’s 30-stock index fell 409.94 points, or 0.96%, to close the day at 42,514.95.
For the blue-chip index, it was the worst day since the beginning of September. At 18,276.65, the Nasdaq Composite saw a 1.6% decline.
It was the third consecutive losing session for the Dow and S&P 500. The benchmark yield on the 10-year Treasury hit 4.25% at its peak for the session, the most since July 26.
Source (CNBC)
