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Stocks end sharply lower as Treasury yields extend climb

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William Watts is MarketWatch markets editor. In addition to managing markets coverage, he writes about stocks, bonds, currencies and commodities, including oil. He also writes about global macro issues and trading strategies. During his time at MarketWatch, Watts has served in key roles in the Frankfurt, London, New York and Washington, D.C.

U.S. stocks fell Wednesday, feeling pressure as a continued bond-market selloff too Treasury yields to all-time highs. The yield on the 10-year Treasury note TMUBMUSD10Y, 4.894% jumped 5.6 basis points to close at 4.902%, based on 3 p.m. ET levels, its highest since July 2007.

Stocks, which had previously held up to a renewed surge in yields, came under pressure, with the Dow Jones Industrial Average DJIA, -0.98% ending more than 330 points lower, a fall of 1%,, near 33,665, according to preliminary figures, while the S&P 500 SPX, -1.34% shed 1.3% and the Nasdaq Composite COMP, -1.62% declined 1%.

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