Nasdaq Drops 1%, Snapping Win Streak as Yields Hit 19-Year Highs

Stocks sank on Wednesday after the rise in bond yields resumed. The Nasdaq fell 1.1%. The S&P 500 was down 0.8%. The Dow Jones Industrial Average lost 0.7%, or 351 points. "The real culprit is the bond market," says Interactive Brokers' chief strategist, Steve Sosnick.