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Markets tumble as bond yields rise

Rising bond yields sent the markets tumbling to a lower close with the Dow plunging 166 points to 24,797. Nasdaq fell 16 points to 7218.


On the upside


Quad/Graphics (NYSE: QUAD) reported higher fourth quarter earnings, declared a quarterly cash dividend of 30 cents per share and acquired marketing solutions provider Ivie & Assoc.


Fate Therapeutics (Nasdaq: FATE) announced that the first patient has been treated in the DIMENSION study of FATE-NK100 to treat advanced solid tumors.


La-Z-Boy (NYSE: LZB) reported higher third quarter revenue that surpassed expectations.

On the downside


Aegean Marine Petroleum Network (NYSE: ANW) warned of losses for the fourth quarter.


Tile Shop Holdings (Nasdaq: TTS) fell to a greater than expected loss for the fourth quarter.


QTS Realty Trust (NYSE: QTS) fell to a fourth quarter loss.


In the broad market, declining issues outpaced advancers by a margin of nearly 6 to 5 on the NYSE while advancers edged out decliners by 5 to 4 on Nasdaq. The broader S&P 500 dropped 14 points to 2,701. Bitcoin collapsed $1,155 to $10,296.


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