2018-10-10 — cnn.com
The Dow plunged nearly 832 points on Wednesday, the third-worst point decline in history. All 30 Dow stocks were in the red, sending the index below 26,000 points for the first time in a month. The index fell by more than 3%.
The S&P 500 posted its fifth straight decline, plummeting nearly 3.3%. And tech stocks got hit particularly hard. The Nasdaq dropped more than 4% in the worst percentage decline since June 2016.
The Technology Select Sector SPDR Fund, a proxy for the tech sector, plunged 4.85%. That hadn't happened since August 2011.
Tech is taking its lumps because bond yields have climbed in recent weeks, hovering at a more-than-seven-year high.
Although that's largely because the US economy is so strong, the spike in rates for the benchmark US 10-Year Treasury has investors wondering if the near-decade-old bull market may finally be ending.
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