Rising rates slam Wall St.; Dow sees biggest drop since 2016

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NEW YORK (Reuters) – All three major U.S. stock indexes tumbled Friday with the Dow seeing its worst percentage drop since June 2016 as climbing bond yields prompted a selloff in equities.

The Dow Jones Industrial Average .DJI fell 665.75 points, or 2.54 percent, to 25,520.96, the SP 500 .SPX lost 59.98 points, or 2.13 percent, to 2,762 and the Nasdaq Composite .IXIC dropped 144.92 points, or 1.96 percent, to 7,240.95.

  • Analyst View: U.S. stocks extend rout as bond yields churn higher

Reporting by Stephen Culp; Editing by Nick Zieminski

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