U.S. stocks slumped to close sharply lower Wednesday as the Dow Jones Industrial Average sank more than 800 points and the S&P 500 had its worst day since February as technology stocks went into freefall. The Dow Jones Industrial Average went down 831.83 points, logging its worst one-day drop since February. Meanwhile the S&P 500 index lost 94.66 points, falling for its fifth straight day, the longest losing streak since November 2016. Market action has been adversely affected by higher bond yields and interest rates, both of which could signal a new phase in post-crisis markets that have enjoyed a protracted period of ultra-low yields.
