Dow Sinks Fast Over 10-Year Benchmark

Treasury yield spooks investors

By Evann Gastaldo, Newser Staff

Posted Apr 24, 2018 1:22 PM CDT

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Dow Plunges 600 Points — Specialist Gregg Maloney works at his post on the floor of the New York Stock Exchange, Monday, April 23, 2018. (AP Photo/Richard Drew)

The Dow Jones Industrial Average plunged about 600 points Tuesday afternoon, the AP reports. Business Insider reports the tumble took place after the closely watched 10-year Treasury yield went above 3% for the first time since 2014. Tech and industrial stocks saw particularly steep drops. The decline wiped out April's gains, MarketWatch reports, noting that both the Dow and the S&P 500 were trading near session lows. The Nasdaq 100 was down more than 2.3%. At the time of publishing, the Dow was down 531 points; the AP reports it had been down as many as 619 points earlier. (Read more stock market stories.)