Wall Street extended declines and the dollar gave up its gains ahead of Asia’s Wednesday trading day.
U.S. indexes fell on Tuesday as stocks sold off for a second day. The Dow Jones industrial average tumbled 362.59 points, or 1.37 percent, to close at 26,076.89, the S&P 500 lost 1.09 percent to finish at 2,822.43 and the Nasdaq composite lost 0.86 percent to end at 7,402.48.
That move lower came as U.S. government debt yields rose to their highest levels in around four years in the last session. The yield on the benchmark 10-year Treasury note last stood at 2.724 percent.
“The combination of profit taking into month-end, higher bond yields, stretched valuations and potential U.S. health care shake-up were the main drivers,” analysts at ANZ Research said in a morning note.