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Stocks end sharply lower as bond yields hit 2-year high, Goldman shares slump

30221 stocks end sharply lower as bond yields hit 2 year high goldman shares slump

Stocks ended sharply lower Tuesday, kicking off a holiday-shortened week on a down note as Treasury yields jumped to two-year highs. The Dow Jones Industrial Average DJIA, -1.51% fell around 542 points, or 1.5%, to close near 35,369, while the S&P 500 SPX, -1.84% shed around 86 points, or 1.8%, ending near 4,577. The Nasdaq Composite COMP, -2.60% declined around 387 points, or 2.6%, to finish near 14,507. The yield on the 10-year Treasury note jumped more than 9 basis points to 1.866%, its highest since January 2008. Shares of Goldman Sachs Group Inc. GS, -6.97% fell 7%, leading Dow decliners after the investment bank delivered results that missed Wall Street expectations on earnings.

Source: Marketwatch

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