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Dow slides more than 2% as Fed rate backdrop boosts inflation fears
The selloff followed comments that higher bond yields have already increased borrowing costs.
A Wall Street Journal Markets piece tied a sharp decline in US stocks to concerns about the inflation impact of the current rate environment.
The report said the Dow fell more than 2% after the Fed chair indicated that rising bond yields have already lifted borrowing costs.
Investors appeared to refocus on how tighter financial conditions could influence inflation expectations, contributing to the broad market drop described by the outlet.
Latest closeDow Jones 51,594.14 ▼2.2%
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