Dow slides more than 550 points as bond yields climb
CNN
It was another rough day for stocks. The market has entered a new phase of volatility as government bond yields are on the rise, signaling expectations for higher interest rates down the line.
The Dow (INDU) closed down 560 points, or 1.8%, on Thursday, just one day after setting a new all-time high. The broader S&P 500 (SPX) finished down 2.4%, its worst drop in a month, and the Nasdaq Composite (COMP) tumbled a whopping 3.5%, marking its worst performance since October. Meanwhile, the 10-year US Treasury bond yield has climbed up to 1.52% at the time the closing bell rang, an increase of 0.13%.
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