Dow Sinks 703 Points Amid Renewed Treasury Yield Surge
The Dow Jones Industrial Average plummeted by 1.32% on Thursday, falling 703.84 points to 52,759.21.
The decline was led by rate-sensitive stocks, which were pressured by the renewed rise in long-term Treasury yields.
Amazon, Tesla, and Apple were among the major decliners, while Walmart's stock crashed 9%.
The S&P 500 Index also shed 0.9%, falling to 7,709.91.