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Dow sinks 700 points as bond yields rise

Los Angeles Daily News
Dow sinks 700 points as bond yields rise

U.S. stocks are plunging toward their worst loss in six months on Wednesday as technology companies continue to take sharp losses. The Dow Jones Industrial Average fell 700 points in afternoon trading. The losses were widespread as bond yields remained high after steep increases last week. Companies that have been the biggest winners on the market the last few years, including technology companies and retailers, suffered steep declines. The S&P 500 index sank 73 points, or 2.5 percent, to 2,807 as of 3:30 p.m. Eastern time. It’s on track for its fifth straight drop, which hasn’t happened since right before the 2016 presidential election. Nasdaq composite, which has a high concentration of technology