Wall Street Stumbles on Rising Treasury Yields, Inflation Worries

People walk by a Wall Street sign close to the New York Stock Exchange (NYSE) in New York on April 2, 2018. (Shannon Stapleton/Reuters)

Wall Street stocks ended sharply lower on Tuesday (Sept. 28) in a broad sell-off driven by rising U.S. Treasury yields, deepening concerns over persistent inflation, and contentious debt ceiling negotiations in Washington.

All three major U.S. stock indexes slid nearly 2 percent or more, with interest rate sensitive tech and tech-adjacent stocks weighing heaviest as investors lost their risk appetite.

Unofficially, the Dow Jones Industrial Average fell 565.16 points, or 1.62 percent, to 34,304.21, the S&P 500 lost 90.34 points, or 2.03 percent, to 4,352.77 and the Nasdaq Composite dropped 420.41 points, or 2.81 percent, to 14,549.56.