Dow plummets over 600 points as McDonald's, Fed worries weigh on market

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Dow Jones Industrial Average,Economy,Federal Reserve

Benchmark 10-year US Treasury yields were at three-month highs, putting stocks under pressure.

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Benchmark 10-year US Treasury yields were at three-month highs, putting stocks under pressure. Markets are reassessing the size of interest-rate cuts over the next several months against the backdrop of strong economic data and the upcoming presidential election.EY fires dozens of staffers for taking multiple online trainings at a time — but employees say company 'encouraged' this

“The move higher in yields has actually been going on ever since the meeting. It’s just in the past week or so that the market has woken up to it,” said Michael O’Rourke, chief market strategist at JonesTrading, adding that the 10-year yield is likely to stabilize around the 4.2% level.

 

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