Stocks tumble after the 10-year hits its highest level since 2014
Markets Insider
- US stocks tumbled Tuesday after the closely watched 10-year Treasury yield climbed above the 3% level for the first time since 2014.
- Selling was also pronounced in the tech sector after Google's quarterly earnings report disappointed investors.
- Follow the Dow Jones industrial average.
US stocks tumbled Tuesday after the closely watched 10-year Treasury yield climbed above 3% for the first time since 2014. Selling in mega-cap tech stocks also put pressure on major indexes.
The Dow Jones industrial average slid more than 2.5%, or 620 points, while the benchmark S&P 500 dropped as much as 2%. The comparatively tech-heavy Nasdaq 100 saw deeper weakness, falling more than 2.8% at its intraday low.See the rest of the story at Business Insider
NOW WATCH: Wall Street's biggest bull explains why trade war fears are way overblown
See Also:
- The stock market's 'secret medication for longevity' has vanished — and that leaves it highly vulnerable to a meltdown
- The market is stuck in a traffic jam — so Goldman Sachs has picked 14 stocks set to break the gridlock by exploding higher
- An overlooked corner of the market has been quietly crushing it — and Bank of America has 2 trades to capitalize on more strength