Stock Market News

Stocks drop on cost worry; US 10-year yields top 3 percent

A gauge of world stocks tumbled on Tuesday, erasing early gains as US bond yields scaled the 3 percent threshold for the first time in four years, while oil prices reversed course after climbing above the USD 75 per barrel mark.

The Dow Jones Industrial Average fell 424.56 points, or 1.74 percent, to 24,024.13, the S&P 500 lost 35.73 points, or 1.34 percent, to 2,634.56 and the Nasdaq Composite dropped 121.25 points, or 1.7 percent, to 7,007.35.

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