Bond yields and therefore interest rates have been rising for more than two years as the US economy grew strong.
A2 Milk Co dropped 6.7 per cent to $9.53, Pushpay Holdings sank 6.2 per cent to $3.50 and Synlait Milk fell 5.4 per cent to $9.15.
Gina Martin Adams, chief equity strategist for Bloomberg Intelligence, said the stocks have become more volatile in the last few months because investors have concerns about their future profitability.
JPMorgan 's Jason Hunter thinks we may have seen the worst of the news from the bond market, as recent action leaves him "looking for yields to form a bullish reversal pattern near current levels and define the cheaper end of the fourth-quarter 2018 to first-quarter 2019 range".
Earlier on Thursday, the SPI200 futures contract was down 109 points, or 1.81 per cent, to 5,914.0 at 7am AEDT, pointing to bleak open for the ASX, which had clawed back some ground on Wednesday after a turnaround in financial stocks and a strong performance by the healthcare sector. Meanwhile, the Nasdaq Composite dropped 315.97 points, or 4.08 percent, and the Dow Jones Industrial Average was down 831 points, or 3.15 percent.
Wall Street stocks plunged Wednesday, with major indices losing more than three percent in a selloff prompted by the sudden jump in United States interest rates.
Microsoft lost 1.4 per cent in early trading Wednesday and 3M gave up 1.6 per cent.
The Dow Jones Industrial Average gave up 738 points, or 2.8 percent, to 25,686. The Nasdaq dropped more than 4% in the worst percentage decline since June 2016.
Fear over higher rates is being best expressed in the bond market where prices have slid lower for weeks.
"As stocks go up, tech goes up more than the stock market". Brent crude, the worldwide standard, lost 2.2 per cent to $83.09 a barrel in London.
Tech stocks and companies that sell non-essentials to consumers have been some of the top performers over the past year, gaining almost twice as much ground as the S&P 500. The two-year yield rose to 2.88 percent from 2.87 percent, and the 30-year yield climbed to 3.38 percent from 3.37 percent.
Trade-sensitive industrial stocks also fell as tensions between Washington and Beijing persisted.
The S&P 500 fell 54 points, or 1.9 percent, to 2,825. Natural gas rose 0.6 percent to $3.28 per 1,000 cubic feet.
U.S. gold futures settled up $1.9, or 0.16 percent, at $1,193.4.
The CAC 40 in France dropped 2.1 per cent, Germany's DAX lost 2.2 per cent and the FTSE 100 in London fell 1.3 per cent.
Roberts described the fall as a slight correction and said he hoped markets would recover similar to what had happened in February and March this year after a dip in the markets also sparked by rising bond yields.
When investors expect rates to rise, the prices of bonds paying lower interest rates falls.
The euro and sterling rose, underpinned by optimism for a Brexit deal, while the USA dollar lost ground against a basket of currencies even as US yields hovered near multiyear peaks.
Hurricane Michael started whipping up large swell in the Florida's Panhandle region. "It's going to be awful ", Thomas told CNN. It appeared to be so powerful that it was expected to remain a hurricane as it moved into Alabama and Georgia early Thursday.
The storm center was located about 90 miles south of Cozumel, Mexico, or 225 miles southwest of the western tip of Cuba. Tropics: Tropical Storm Michael was named on Sunday and is set to travel into the Gulf over the next couple of days.
As well, there is a chance to save the coral reefs with 1.5 C warming, as opposed to no chance at 2 C, according to the report . Tim Buckley said if all those plans come to pass, the rest of the world's cuts won't be enough to compensate for that increase.
Since being ranked in 62nd place in 2006, the country has made the fastest leaps on the list, rising to the 21st spot in 2018. Spot three, for instance, is shared by France, Germany and South Korea, all with 188 visa-free destinations.
Russian and US space officials said that the crew is heading for an emergency landing in Kazakhstan at an unspecified time. A duo of astronauts from the US and Russian Federation has blasted off for a mission on the International Space Station.
The two British citizens were travelling in a taxi when a river burst its banks on the popular holiday island. In December 2016, there was widespread flooding in southern Spain and several people died.
A night after three of his calls at first base were reversed on video reviews, Angel Hernandez was the plate umpire. Kinsler made it 2-0 with a double over Gardner's head in left, and Nunez made it 3-0 with a single to left.
Acute flaccid myelitis is tricky to diagnose and may require tests of spinal fluid, as well as magnetic resonance imaging (MRI). AFM symptoms include sudden muscle weakness in the arms or legs, sometimes following a respiratory illness.
Markets Right Now: Stocks fall sharply as bond yields rise
Meanwhile struggling retailer Sears was in focus as the Wall Street Journal reported that it was preparing to file for bankruptcy. The benchmark US stock index hadn't suffered a five-day losing streak since November 2016, just before the presidential election.
Mitch McConnell is standing by Lisa Murkowski Kathryn Krawczyk
During the vote, Murkowski withdrew her "no" vote, changing it to "present" instead, effectively pairing it with Republican Sen. Trump used the ceremony as a platform to decry the " campaign of political and personal destruction " waged against Kavanaugh.
Tway clinches first PGA Tour victory in playoff in Napa
The 20-year-old finished regulation at 13-under 275, after carding a 71 in the final round with four birdies against three bogeys. Tway birdied the final two holes of the final round, then birdied three straight playoff holes, the last one to clinch the win.
Hubble in Safe Mode as Gyro Issues are Diagnosed
Hubble has been orbiting Earth since 1990, and in those decades, it has overhauled our knowledge of the universe around us. For now, NASA hasn't offered any timeframe on when can we expect Hubble Space Telescope to come back into operation.
Survey Says GOPers Madder, More Likely to Vote Than Dems
As Justice Kavanaugh settles into his lifetime seat on the bench of the nation's highest court, the left remains angry. He was sworn in by retired Justice Anthony Kennedy at an entirely ceremonial event Monday at the White House.