US stocks end lower amid rising government bond yields

By Gokhan Ergocun

ISTANBUL (AA) - Major US stock indexes closed sharply lower Tuesday at the start of a holiday shortened trading week.

The Dow Jones Industrial Average ended down 1.51% or 543.34 points at 35,368.

The S&P 500 lost 85.74 points, or 1.84%, to close at 4,577.

The Nasdaq was down 368.86 points, or 2.6%, to end the day at 14,506.

A jump in the Treasury yield, an earnings miss by Goldman Sachs, and ongoing worries over the likelihood of sooner-than-expected interest rate hikes by the Federal Reserve pressured markets.

The 10-year US Treasury yield jumped to its highest point in two years, hovering near 1.87%.

Goldman Sachs reported fourth-quarter earnings that were below analysts’ expectations, reflecting a profit decline for the last three months of the year.

European and Asian indexes also ended the day in negative territory.