Market Turmoil: Dow Plunges 400 Points in Worst Day Since March Amid Interest Rate Concerns

The Dow Jones Industrial Average plunged 400 points, marking its worst day since March, as investor concerns over higher interest rates weighed on the stock market. The S&P 500 and Nasdaq also experienced significant declines, reaching their lowest levels since June. The market reacted to softer-than-expected data on new home sales and consumer confidence. The downward trend comes despite the Federal Reserve's recent decision to pause its interest rate hikes. Technology stocks, including Apple, Microsoft, Alphabet, and Amazon, contributed to the losses. The bond market is also affected, with 10-year U.S. Treasury yields reaching their highest level since 2007.