Wall Street Yo-Yos in Early Trading Thursday

New York City. With bond prices dropping interest rates have been surging resulting in the Dow Jones Industrials Average falling over 200 poin

New York City. With bond prices dropping interest rates have been surging resulting in the Dow Jones Industrials Average falling over 200 poin

"As uncertainty continues to prevail in financial markets across the world, many investors are staying on the sidelines until more clarity emerges in U.S. Treasury and Chinese markets", said Yasuo Sakuma, chief investment officer at Libra Investments, according to Reuters. More than a quarter of stocks on the Shanghai exchange fell by their 10 percent daily limit, according to Bloomberg, as the Shanghai Composite Index hit lows not seen since 2014. Eastern time. It's on pace to be the index's worst day since February 5, when it lost over 1,100 points in a single trading day.

Stocks have slumped over the last week as a combination of strong economic data and positive commentary from Federal Reserve leaders sent bond yields rocketing higher as investors bet that interest rates will keep rising.

Technology and internet-based companies are known for their high profit margins, and many have reported explosive growth in recent years, with corresponding gains in their stock prices. The Nasdaq's 2-percent drop pulled it 7.1 percent away from its high.

The Dow Jones industrial average ended the day down 2.1 percent, or 546 points, to 25,052.

The biggest driver for the market over the last week has been interest rates, which began spurting higher after several encouraging reports on the economy. (NYSE: NKE) and Boeing Co (NYSE: BA), which declined 7 percent and 6.9 percent, respectively. The S&P 500 closed at 2,728.38, down 2 percent. Energy and oil stocks were battered, while sectors that lost the most on Wednesday were more resilient.

Adding to the worries was the impact of Hurricane Michael on insurance companies as well as fears about demand in China which weighed on luxury brands such as Tiffany - down 10% - as well as Ralph Lauren, which was off 8%.

"People fear building prices into the system, both from China trade problems, other tariffs the USA has put into place, wage pressure, and today there is a little bit of concern about what the Hurricane in Florida could do to energy prices". Some early relief over a tame report on inflation gave way to renewed selling.

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The Nasdaq composite, which has a high concentration of technology companies, had its biggest loss in more than two years.

1 p.m.: This article was updated with the close of markets.

The consumer price index rose 0.1% in September, according to the Labor Department, compared with forcasts of a 0.2% increase. It was at just 3.05 percent early last week. Earnings season should improve investors' moods through the end of the year, he writes, with a cycle peak in 2020 and the next major low not due until 2020. Copper fell 0.9 per cent to $2.78 a pound.

All three of our favorite companies experienced steep market losses today. Industrial and internet companies also fell hard.

Shares in Facebook and Apple also fell more than 1 percent each.

The dollar index fell 0.31 per cent, with the euro up 0.4 per cent to $1.1564.

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