US stocks fall as 10-year Treasury yield hits highest level since 2007

US stocks closed lower on Wednesday, September 23, as Treasury yields rose on worries that the Federal Reserve may raise interest rates again. The S&P 500 fell 0.75% to 7,706.03, the Nasdaq Composite lost 1.13% to 26,936.04, and the Dow Jones Industrial Average dropped 352.10 points (0.68%) to 51,511.59. The 10-year Treasury yield reached 5.135%, its highest level since July 2007.