Why Is the Stock Market Down Today? Dow Dropped Nearly 1,000 Points as Bond Yields Rose. – Barron’s

The stock market sold off sharply Friday, as bond yields hit new highs, reflecting the Federal Reserve’s intent to rapidly hike short-term interest rates. The 2-year Treasury yield closed at a new multi-year high.

The Dow Jones Industrial Average closed down 981 points, or 2.8%, while the S&P 500 was down 2.8%. The Nasdaq Composite fell 2.6%. The Dow had its worst day since October 28, 2020.

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