Rising Rates Slam Wall Street; Dow Sees Biggest Drop Since 2016

Traders work on the floor of the New York Stock Exchange / Reuters

BY:

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 sell-off in equities.

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

(Reporting by Stephen Culp; Editing by Nick Zieminski)

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