Dow falls 300 points as stocks open sharply lower to resume selloff after Wednesday bounce

Stocks opened lower on Thursday, giving back a chunk of the previous session’s bounce, as Treasurys saw a resumed selloff that pushed yields back up. Stocks rose sharply Wednesday, ending a six-day losing streak that had sent the Dow Jones Industrial Average and S&P 500 to their lowest closes since November 2020. The bounce came as global bond yields fell after the Bank of England moved to buy U.K. government bonds to arrest a market meltdown. Yields were back on the rise Thursday, with the 2-year Treasury rate
TMUBMUSD02Y,
4.208%
up 9 basis points at 4.19%. The Dow
DJIA,
-1.92%
was down 300 points, or 1%, at 29,383, while the S&P 500
SPX,
-2.49%
dropped 1.4% to 3,669 and the Nasdaq Composite
COMP,
-3.30%
shed 1.8% to trade at 10,848.