US stocks end lower amid rising government bond yields
10-year Treasury yield surges to 2-year high
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Major US stock indexes closed sharply lower Tuesday at the start of a holiday shortened trading week.
The Dow Jones Industrial Average ended down 1.51% or 543.34 points at 35,368.
The S&P 500 lost 85.74 points, or 1.84%, to close at 4,577.
The Nasdaq was down 368.86 points, or 2.6%, to end the day at 14,506.
A jump in the Treasury yield, an earnings miss by Goldman Sachs, and ongoing worries over the likelihood of sooner-than-expected interest rate hikes by the Federal Reserve pressured markets.
The 10-year US Treasury yield jumped to its highest point in two years, hovering near 1.87%.
Goldman Sachs reported fourth-quarter earnings that were below analysts’ expectations, reflecting a profit decline for the last three months of the year.
European and Asian indexes also ended the day in negative territory.
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