Analysts linked the Dow's downturn to the 10-year Treasury yield rising past 3 percent Tuesday for the first time since 2014.
Shares of the world's biggest planemaker, rose 1.65 percent and provided some support to the Dow Jones Industrial Average index after it reported a higher-than-expected quarterly profit and raised full-year forecast for earnings and cash flow.
"Jeremy Klein, chief market strategist at FBN Securities, however said", I am not anxious about corporate earnings". The investors sell American government securities because of expectations of rising inflation. The yield is the amount of money that an investor can expect to earn from holding debt.
Investors are anxious rising borrowing costs because it may slow the economy and hurt companies' ability to buy back their own stocks even.
The S&P 500 index lost 44 points, or 1.7 percent, to 2,626.
The S&P 500 index fell 5 points, or 0.2 percent, to 2,664.
Exxon Mobil Corp. (XOM) rose 1.5%, providing one of the biggest lifts to the energy sector, which rose 0.8% as one of the strongest-performing sectors of the day.
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.
Facebook, Twitter, AT&T and Boeing report quarterly earnings.
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A lower court now has 60 days to decide whether he should get a new trial; prosecutors could also choose to drop the charges. Meek Mill , who was sentenced after violating his probation on a drug and weapon's case regained his freedom on Monday.
Alphabet shares fell 4.77 per cent, erasing the stock's year-to-date gains as rising expenses and shrinking margins overshadowed the company's better-than-expected profit.
Bond prices fell. The yield on the 10-year Treasury rose to 2.99 percent.
Other technology stocks in the FAANG group, Facebook, Amazon.com Inc and Netflix Inc, also weighed on the Nasdaq.
The Dow Jones industrial average climbed 47 points, or 0.2 percent, to 24,523.
General Electric Co.(GE) tumbled 4.3% after Moody's Investors Service revised its outlook on the company's ratings to negative (http://www.marketwatch.com/story/ge-dealt-another-blow-by-moodys-as-shareholders-line-up-to-slam-ceo-flannery-2018-04-25), meaning it could downgrade it in the medium term. This is partly due to the company's president Brad Halverson's statement, according to which the company's forecasts are that the first quarter will be the culmination of the year.
On the economic front, US consumer confidence rebounded in April, according to the Conference Board, as short-term optimism improved and the share of consumers expecting their incomes to decline in the coming months hit its lowest level since December 2000.
The S&P 500 index skidded 35.73 points, or 1.3 percent, to 2,634.56. The Nasdaq gave up 45 points, or 0.6 percent, to 7,083.
The U.S. equities fell sharply in the previous session.