The US stocks eased yesterday as major averages all moved notably lower, with the Dow and the S&P 500 extending their losing streaks to three days. The Dow slumped 409.94 points (1%) to 42,514.95, the Nasdaq tumbled 296.47 points (1.6%) to 18,276.65 and the S&P 500 slid 53.78 points (0.9%) to 5,797.42.
The weakness on Wall Street came amid a continued increase by treasury yields, which have moved sharply higher over the past few sessions. The yield on the benchmark ten-year note has risen to its highest level in almost three months amid worries the Federal Reserve will lower interest rates slower than previously anticipated.
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