Dow industrials down 2% heading into final hour of trading

All three major U.S. stock indexes were down by 2% or greater in the last hour of trading, and poised for their worst declines since June. Stocks dropped across every sector as rates across the Treasury curve surged above 3% in anticipation of continued aggressive rate hikes by the Federal Reserve. The declines would amount to the worst for Dow industrials DJIA, -1.91% and the S&P 500 SPX, -2.14% since June 16, and the worst for the Nasdaq Composite COMP, -2.55% since June 28, according to Dow Jones Market Data.