Summary
NEW YORK (AP) - Wall Street plunged Tuesday as investors, driving the Dow Jones industrial average down nearly 130 points, grappled with a seemingly relentless rise in bond yields.
It was a fitful trading session that saw stocks tumble, claw their way back and then plummet again when the yield on the 10-year Treasury note soared to a five-year high of 5.295 percent. The climb in bond yields exacerbated jitters about mortgage rates rising, which could hurt the already sluggish housing market, and about the Federal Reserve hiking interest rates, which would slow down corporate dealmaking.See the full content of this document
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Rising 10-Year Yields Send Stocks Falling
Surging takeover activity had helped boost stocks to record levels until a week ago, when the...
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