Business

Nasdaq tumbles 2% on weak data, surging bond yields

1 minute read

Sept 28 (Reuters) - The Nasdaq tumbled 2% on Tuesday after weaker-than-expected consumer confidence data, while technology heavyweights took a hit from a surge in bond yields on expectations of higher interest rates and rising inflation.

At 10:08 a.m. ET, the Dow Jones Industrial Average (.DJI) was down 342.46 points, or 0.98%, at 34,526.91, the S&P 500 (.SPX) was down 61.57 points, or 1.39%, at 4,381.54, and the Nasdaq Composite (.IXIC) was down 298.80 points, or 2.00%, at 14,671.17.

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Reporting by Devik Jain in Bengaluru; Editing by Maju Samuel

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