In New York, the Dow Jones Industrial Average dropped 419.02 points to 52,766.88, the S&P 500 lost 54.67 points to 7,631.47, and the Nasdaq composite fell 271.12 points to 26,099.77, per The Canadian Press.
Energy led the 11 major S&P 500 sectors while consumer discretionary suffered the largest percentage loss, according to Reuters.
AP News reported the yield on the 10-year US Treasury rose to 4.79 percent from 4.75 percent late Monday, having been as low as 4.20 percent at the start of 2026.
The two-year yield, which closely tracks expectations for US Federal Reserve moves on interest rates, climbed to 4.39 percent from 4.34 percent, the outlet said, adding that US debt surpassed US$40tn two weeks ago.
Markets are pricing a 68.2 percent likelihood of a 25-basis-point US Federal Reserve hike at the end of its September meeting, up from 39.6 percent a week ago, Reuters citing CME’s FedWatch tool.