US stocks fell on Wednesday, with the Dow Industrials and S&P 500 indexes suffering their worst day in seven weeks, on a batch of soft quarterly earnings and a rise in bond yields.
Benchmark US 10-year note yields hit a seven-month high of 2.475 percent, buoyed by economic data, recent optimism over progress on tax reform by US President Donald Trump’s administration and anticipation of a nominee to head the Federal Reserve.
The Dow Jones Industrial Average fell 112.3 points, or 0.48 percent, to end at 23,329.46, the S&P 500 lost 11.98 points, or 0.47 percent, to 2,557.15 and the Nasdaq Composite dropped 34.54 points, or 0.52 percent, to 6,563.89. Selling was broad, with all 11 major S&P sectors in negative territory. Also, for the first time since late August, more New York Stock Exchange stocks made 52-week lows than highs.
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