WALL ST SLIDES AS RATE JITTERS DRIVE BOND YIELDS HIGHER

Wall Street indexes retreated on Wednesday, led by declines in rate-sensitive sectors as concerns around the timing and the scale of the Federal Reserve's interest rate cuts pushed Treasury yields higher and pressured risky assets.

The blue-chips Dow led declines, falling to its lowest in nearly one month, while all S&P 500 subsectors were in the red, with real estate, financials and utilities down between 0.8% and 1.5%. The yield on the benchmark 10-year U.S. Treasury note hit four-week highs at 4.6%, extending Tuesday's gains, though inflation worries persisted.

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