Markets Right Now: Big tech, industrials lead stocks lower

Traders work on the floor of the New York Stock Exchange in the Manhattan borough of New York City New York U.S

Financial stocks were the biggest laggards, falling 0.4 percent on the S&P 500, after a 5 percent drop in shares of Capital One as the credit card issuer reported a drop in net interest margin.

Boeing Co.(BA) rose 4.2% after beating first-quarter earnings expectations (http://www.marketwatch.com/story/boeing-stock-flies-on-earnings-beat-upward-guidance-2018-04-25) and hiking its 2018 earnings outlook.

Financial and technology stocks led Wall Street lower on Wednesday as concerns about rising USA bond yields eclipsed gains from Boeing and Comcast following strong results.

"Jeremy Klein, chief market strategist at FBN Securities, however said", I am not anxious about corporate earnings".

Investors are anxious rising borrowing costs because it may slow the economy and hurt companies' ability to buy back their own stocks even.

Google parent Alphabet fell almost 5 percent and closed the day at $1,022.64.

The rise in Treasury yields reflected the durability of the USA economic expansion and stoked views the three-decade-old bull market in bonds is coming to an end.

Stocks nosedived Tuesday, with the Dow Jones industrial average sinking 600 points at session lows.

The Russell 2000 index slid 8.84 points, or 0.6 percent, to 1,553.28. The stock's rise helped the Dow bounce back from a 201.05-point deficit and snap a five-day losing streak.

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Shares of the world's biggest planemaker rose 2.5 percent after its profit jumped by more than half in the first quarter and the company raised its full-year forecasts for cash flow and earnings.

Alphabet reported a solid quarterly profit on Monday, after the closing bell.

Higher bond yields could also prompt portfolio managers to weigh moving money into more attractive fixed-income securities at the expense of equities.

The US markets ended the Tuesday trading session on red territory because of investors' concerns about a possible increase in interest rates and skeptical statement by the Caterpillar's President.

Caterpillar warned of weaker profits and 3M, like several other manufacturers reporting their quarterly results, said it was seeing higher costs for raw materials.

Bond prices fell. The yield on the 10-year Treasury rose to 2.99 percent.

The S&P 500 is down 39.05 points, or 1.5 percent.

Oil topped $75 a barrel before plunging more than 2.5%. The Nasdaq composite, meanwhile, slipped 0.1 percent to 7,003.74.

Volume on US exchanges was 7.22 billion shares, compared to the 6.80 billion average for the full session over the last 20 trading days.

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