Dow falls 2.4% on fears of rising interest rates, mixed earnings

US stocks tumble, erasing an early gain; bond yields climb

Stock Market Closes Down 424 Points: Dow Jones Industrial Average Drops For Fifth Consecutive Day

This story will be updated as new information becomes available.

3M, the maker of Scotch tape and Post-it notes, weighed most heavily after the company said it would lower its earnings guidance for 2018.

3M shed 6.8 percent to $201.13.

Alphabet fell 4.8 percent after reporting a spike in spending.

At the closing bell, the Dow Jones Industrial Average was at 24,022.07, down 1.7 per cent. It was down as much as 619 earlier.

The Standard & Poor's 500-stock index and the tech-heavy Nasdaq Composite also showed sharp losses - dropping 1.3 percent and 1.7 percent respectively. The Nasdaq composite dropped 111 points, or 1.6 percent, to 7,018.

The yield on the 10-year Treasury reached 3 percent for the first time since January 2014.

The Dow is down 270.53 points, or 1.1 percent. A consensus of analysts estimated Twitter's first-quarter adjusted earnings at 12 cents a share on revenue of $609 million, up 11 percent from the year-ago quarter. Bloomberg News reported that the companies are close to a deal and the shares rose 2.2 percent to $163.53. Right now, the difference between them is about half of a percentage point.

The Russell 2000 index of smaller-company stocks sank 2 points, or 0.1 percent, to 1,562.12. DowDuPont shed 3.7 percent to $63.1.

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USA stocks couldn't hang on to an early gain and finished mostly lower Monday as technology companies slipped. The note is considered an important benchmark for other rates such as mortgages.

So far, 24 per cent of S&P 500 companies have reported first-quarter results, with 77.1 per cent coming in above the Street consensus, versus the 64 per cent average since 1994. Verizon, Harley-Davidson and Fifth Third Bancorp all rose.

Facebook fell 3.5 percent to $160.10 and Microsoft skidded 1.8 percent to $93.65.

The 10-year yield, a benchmark for global borrowing costs, has been driven steadily higher by a combination of concerns over inflation, growing debt supply and rising Federal Reserve borrowing costs.

Economic data released Tuesday morning included a reading on home sales, which surged to a near four-year high.

Stocks moved broadly higher in early trading Tuesday as a handful of solid company earnings reports put investors in a buying mood. Japan's benchmark Nikkei 225 rose 0.9 percent, helped by the weaker yen. Silver climbed 0.7 percent to $16.70 an ounce. Heating oil dipped 0.6 percent to $2.13 a gallon. Southeast Asian shares were also mostly lower.

Wall Street stocks fell sharply on Tuesday on worries about higher interest rates and disappointment over corporate earnings that have not met lofty expectations.

Drugmaker Shire rose 3.3 percent after saying it had received another takeover offer from Japanese rival Takeda. The S&P/Case-Shiller index rose a seasonally adjusted 0.5% and was up 6.3% compared with a year ago in February.

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