US stocks sink as inflation beat seals jumbo hike; Nasdaq cracks 3%
The Dow Jones Industrial Average fell 500 points, or 1.73%. The S&P 500 slipped 2.10% and the Nasdaq Composite slumped 3.08%. The yield on the 10-year U.S. Treasury spiked above 4% as bonds sold off – yields are inverse to price.
