Around the World's Markets: New York

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The Independent Online
STOCKS TUMBLED yesterday as Wall Street was rattled by a jump in bond interest rates to the highest levels since late 1997.

The Dow Jones industrial average was down 132.03 points, or 1.24 per cent, at 10,534.83. In the broader market, declining issues beat advances 1,961 to 951 on moderate volume of 688 million shares. In the bond market, the yield on the benchmark 30-year US Treasury issue climbed to 6.17 per cent - the highest since November 1997 - from 6.15 per cent at Wednesday's close.