Around the World's Markets: New York

STOCKS TOOK a beating after bond interest rates soared to the highest level in more than a year and heightened worries about the market's valuations.

The Dow Jones ended down 143.74 points, or 1.32 per cent, at 10,765.64. The Nasdaq plunged 49.65 points, or 1.97 per cent, to 2,474.56.

The sell-off in stocks came on the heels of a jump in the yield for the benchmark US 30-year bond to 6 per cent, up from Monday's close of 5.97 per cent.