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The S&P 500 fell Wednesday, putting the benchmark index on track for a third day, as Treasury yields continued their march higher.
The Dow Jones Industrials jettisoned 180.92 points to begin the session at 42,743.97
The much broader index fell 24.68 points to 5,826.52.
The NASDAQ stumbled 137.04 points to 18,436.09.
Dow member McDonald’s fell more than 7% after the U.S. Centers for Disease Control and Prevention said an E. coli outbreak tied to the fast-food giant’s Quarter Pounder burgers has resulted in 10 hospitalizations and one death. Starbucks dipped 2% after the coffee chain issued preliminary quarterly results showing that its sales fell again.
Prices for the 10-year Treasury lost ground, raising yields to 4.24% from Tuesday’s 4.20%. Treasury prices and yields move in opposite directions.
Oil prices sank 53 cents to $71.21 U.S. a barrel.
Prices for gold flopped $11.80 an ounce to $2.748 U.S.
