New York Stock Exchange Closes Down...Worry intensifies over surge in Treasury yields

The New York stock market closed lower in unison as a surge in U.S. Treasury yields amplified concerns about prolonged high interest rates.

On the New York Stock Exchange, the blue-chip group Dow Jones 30 Industrial Average closed at 42,514.95, down 409.94 points or 0.96% from the previous session.

The large-cap-focused Standard & Poor's 500 index stood at 5,797.42, 53.78 points or 0.92% lower than the previous session.

The tech-heavy Nasdaq composite fell 296.48 points or 1.60% to 18,276.65, while the Russell 2000 index of smaller-cap stocks also fell 0.79% to close.

The New York stock market opened lower and ended the day with a broader fall as the 10-year U.S. Treasury yield surged to 4.26%, up 0.054 percent from the previous day, dampening investor sentiment.