Dow Jones plunges 600 pts as Wall Street gets battered by rising Treasury yields

US stocks closed lower as rising Treasury yields weighed on equities, with the Dow falling more than 1% and the S&P 500 and Nasdaq also declining. Higher oil prices added pressure while Walmart shares dropped sharply, further heightening investor concerns. Overall, the mix of rates and consumer/retail weakness points to a near-term risk-off tape.

Analysis

US stocks closed lower as rising Treasury yields weighed on equities, with the Dow falling more than 1% and the S&P 500 and Nasdaq also declining. Higher oil prices added pressure while Walmart shares dropped sharply, further heightening investor concerns. Overall, the mix of rates and consumer/retail weakness points to a near-term risk-off tape.