· The Dow Jones Industrial Average .DJI fell 193 points, or 0.78 percent, to 24,706.41, the S&P 500 .SPX lost 18.68 points, or 0.68 percent, to 2,711.45 and the Nasdaq Composite .IXIC dropped 59.69 points, or 0.81percent, to 7,351.63.
A surge in U.S. government bond yields to their highest level in almost seven years sent Wall Street shares sliding on Tuesday after strong retail sales data stoked inflation concerns and investors fretted about looming trade talks between the United States and China.
· The yield on 10-year U.S. Treasury notes jumped to its highest level since July 2011, suggesting an uptick in inflation and sending the dollar index .DXY to its highest close in 2018, raising expectations for further interest rate hikes from the Federal Reserve.
· Stocks in Asia were narrowly mixed early on Wednesday following a down day for Wall Street as the U.S. 10-year Treasury yield rose to 3.09 percent.
· Japan's Nikkei 225 eased 0.34 percent and the broader Topix slipped 0.23 percent as mining and oil shares weighed. Banking stocks also pulled back in early morning trade.
· Elsewhere, South Korea's benchmark Kospi traded lower by 0.35 percent, with moderate gains in index heavyweight Samsung Electronics failing to offset declines in stocks in the autos and manufacturing sectors.
Reference: Reuters, CNBC
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