Dow plummets 550 points on rising rates and uncertain forecasts from industrials
By Thomas Heath April 24 at 1:58 PM
The Dow Jones industrial average slipped more than 2 percent — 550 points — in afternoon trading as a key U.S. government bond yield hit 3 percent for the first time in more than four years and several major companies signaled difficult times ahead.
Traders have been worried that the rising yield of long-term government bonds may mean higher rates for consumers and companies and a period of falling stock prices.
The Standard & Poor’s 500-stock index and the tech-heavy Nasdaq Composite also showed sharp losses — both dropping more than 1.6 percent.
Oil prices, which had recently hit highs not seen since late 2014, pulled back slightly.
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https://www.washingtonpost.com/business/economy/dow-plummets-500-points-on-rising-rates-and-uncertain-forecasts-from-industrials/2018/04/24/129ca3ca-47e8-11e8-8b5a-3b1697adcc2a_story.html