Stocks close mixed; Dow industrials end losing streak

Stocks tumble; 10-year Treasury bond yield touches 3% milestone

The yield on 10-year Treasury bonds rose to 3 percent for the first time since 2014 on Tuesday, a threshold that investors generally associate with a fading stock market. The VIX Volatility Index was lower at 17.84 for a loss of -0.18 points or -1.00%. The S&P 500 index, meanwhile, ended up about 0.2% at 2,639, as gains in the energy sector (XLE) health-care, consumer discretionary and industrials supported the broad-market benchmark.

Dow Jones futures were down 0.33%. Google parent Alphabet fell almost 5 percent and closed the day at $1,022.64. FB tumbled nearly 4% yesterday after higher expenses at Google parent Alphabet raised concerns about profitability for the tech titans. "Both however are selling off while noting that the tariffs will have a negative impact on profits", said David Kudla, Founder, CEO, and Chief Investment Strategist at Mainstay Capital Management. There were worries that markets would be rattled when the yield crossed the 3 percent threshold because it might cause the Federal Reserve to alter its outlook for interest rates but they now appear to be unfounded.

On Wednesday, the US stocks fell drastically adding up to the losses of the last session, as the investors fretted over interest rates reaching multiyear highs.

The Dow Jones Industrial Average fell 424.56 points, or 1.74 percent, to 24,024.13, the S&P 500 lost 35.73 points, or 1.34 percent, to 2,634.56 and the Nasdaq Composite dropped 121.25 points, or 1.7 percent, to 7,007.35.

Economic data released Tuesday morning included a reading on home sales, which surged to a near four-year high.

However, Twitter fell 2.4percent after the social media company said it expects a slowdown in revenue growth and increasing costs, putting a damper on its otherwise upbeat earnings report.

Sean Hannity responds to reports of HUD purchases, 'shell' companies
The Guardian published an interesting article on my new best friend, Sean Hannity . "We know that because the context in which Mr. Hannity did not disclose any commercial relationship with HUD when interviewing its secretary, Ben Carson, on his show last June.

BONDS: The concerns about increased costs also come at a time of rising interest rates, which makes it more expensive for companies to borrow money.

CURRENCIES: The dollar edged up to 108.67 yen from 108.65 yen. Its stock fell 5.1 percent to $25.51. The euro fell to $1.2175 from $1.2237.

The Russell 2000 is up 14.96 points, or 1 percent.

Wholesale gasoline lost 1.4 percent to $2.09 a gallon. Natural gas rose 0.2 percent to $2.79 per 1,000 cubic feet.

METALS: Gold rose 0.7 percent to $1,333 an ounce. Japan's benchmark Nikkei 225 shed 0.3 percent. At last check, London's FTSE 100 and the French CAC 40 are each 0.7% lower. The Kospi in South Korea lost 0.4 percent and Hong Kong's Hang Seng added 1.4 percent.

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