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Sectors posting the biggest losses included technology (2 percent), materials (2.69 percent) and industrial (2.82 percent) stocks.
Market favorites including Alphabet and Amazon dropped Tuesday, and heavy equipment maker Caterpillar sank 6.2 percent after warning of weaker profits.
In Asia, share markets were trading lower on Wednesday in morning session, following an overnight drop in USA stocks.
The Dow Jones Industrial Average marked its longest losing streak in a year, as stocks ended the session sharply lower on Tuesday on the back of higher Treasury yields. It was down as much as 619 earlier. The S&P 500 dropped 35.73 points, or 1.34%, to 2,634.56. The tech-focused Nasdaq Composite Index was down 1.7%, marking its worst daily drop since April 6.
The rate increase is partly a response to swelling government debt and to rising commodity prices, including oil, which puts upward pressure on inflation, says Brad McMillan, the chief investment officer at Commonwealth Financial Network.
Mining company Freeport-McMoRan plunged 16 percent.
Restaurant Brands International Inc rose 4.3 per cent to C$72.04 after the company reported first-quarter profit that topped estimates. The yield on the 10-year Treasury note rose to 2.99 percent from 2.98 percent. DowDuPont shed 3.7 percent to $63.1.
US stocks slid Tuesday amid disappointing first-quarter earnings reports from industrial giants like Caterpillar and 3M, and from tech companies like Alphabet, the parent company of Google. The note is considered an important benchmark for other rates such as mortgages. Verizon, Harley-Davidson and Fifth Third Bancorp all rose. Hong Kong's Hang Seng was down 1.1 percent to 30,298.60, and the Shanghai Composite shed 0.7 percent to 3,108.01. The higher 10-year yield suggests inflation may be finally headed toward the Fed's target. It's been climbing because investors expect higher economic growth and inflation.
Stocks moved broadly higher in early trading Tuesday as a handful of solid company earnings reports put investors in a buying mood.
Japan's Nikkei 225 fell 0.5% while the Topix index was down 0.47%. Silver climbed 0.7 percent to $16.70 an ounce. The Nasdaq increased 11 points, or 0.2 percent, to 7,139. Southeast Asian shares were also mostly lower.
US stocks slid on Tuesday as 10-year Treasury yields hit the highly anticipated 3 per cent mark for the first time in four years, stoking concerns over higher borrowing rates for companies already facing rising costs, and as quarterly results failed to deliver positive outlooks.
The largest percentage gainer on the TSX was Mitel Networks Corp, which rose 9.6 per cent.
The Dow Jones industrial average climbed 71 points, or 0.3 percent, to 24,523.
Gold rose 0.7 percent to $1,333 an ounce. YIELDS QUESTION: Bond prices slipped again Tuesday.
The WTO projects global merchandise trade will expand by 4.4 percent this year, after increasing by 4.7 percent in 2017. But German central bank chief Jens Weidmann said the G20 officials all agreed trade must benefit all countries.
At the " Bharat Ki Baat , Sabke Saath" event in London , PM Modi said that "rape is rape" and shouldn't be politicized. The journalist said that she was intimidated by the protesters when she approached them with her question.
Israel has declared a no-go zone close to the Gaza border fence, and deployed army sharpshooters along it. Gaza's Hamas-run health ministry said one Gazan was killed and another seriously wounded in the strike.
China was informed late Sunday of the accident and its embassy in Pyongyang dispatched personnel to the scene, the ministry said. Chinese state media footage showed the blue tour bus completely flipped over, with part of its body broken.
In July, on the eve of the Democratic National Convention, Wikileaks published 20,000 internal emails stolen by the hackers. This is the second time in recent history that the DNC has sued a Republican president.
But the United States, with whom Raul Castro launched a rapprochement and renewed diplomatic ties in 2015, was less welcoming. Attention is now focused on what changes, if any, will come in Cuba under Diaz-Canel, who was born after the revolution.
San Antonio Spurs guard Tony Parker says he has always viewed coach Gregg Popovich and his wife , Erin, as like his mom and dad. Her death led to an outpouring of thoughts and prayers from across the National Basketball Association community.
The 19-year-old non-student suspect was confronted by the school resource officer within three minutes of the 8:39 shooting . The activities of a college resource officer were praised by Authorities after having a shooting in a Florida high school.
Snowden voiced criticism of Russian Federation in a Twitter post about the messenger app Telegram, which Moscow recently banned. Russia's media regulator has blocked more than 4 million IP addresses after a court approved its request to shut the app down .
Both coaches expressed their admiration for Antetokounmpo's effort on the play after the game. "They had a lot to do with that". And in the end, the long reach of Antetokounmpo emerged from a pack of Celtics to tip in the winning shot.
If that wasn't enough of a treat, Kanye clarified the second album would be with Kid Cudi in their new group, Kid See Ghost . In addition to his other one coming out June 1? Kanye West is coming back with a vengeance - and two new albums.
Best Buy and Amazon, of course, still compete on many fronts, like selling electronic accessories and video games. Unlike with an Echo device, you have to hit a button to reach Alexa, as it's not listening for a wake word.
Survivors of Syria gas attack saved evidence for inspectors
The committee has been negotiating a deal to spare the city a military assault by the Syrian army and its allies who encircle it. Russian ministry spokeswoman Maria Zakharova said the delays to the OPCW team were "unacceptable", in a statement Saturday.
Masked Embiid scores for 76ers
He made five of his last six attempts from the floor after missing his first five shots. "I don't really get caught up in that". The Heat started out the game up 4-0, before the Sixers mounted a comeback behind Marco Belinelli and Robert Covington .
Stars pay tribute to Avicii on social media
He followed a month later with a full-length documentary called True Stories , which was largely about his retirement. DJ Deadmau5 wrote: "My sincerest and most heartfelt condolences to the chums, followers and households of @ Avicii ".
FA Cup semi-finals preview
This weekend's meeting with Tottenham will see the victor meet either Chelsea or Southampton in next month's final. I don't believe, it would be fantastic to finish the season with a trophy.
Was Virat Kohli batting for the not-out?
Sarfaraz Khan batted a couple of spots lower and continued to play in a way that questions RCB's retention decision. For a second Woakes was allowed to celebrate as the umpire raised his finger, but Pandya was quick to review.