The sense of dread that gripped equity markets earlier in the week suddenly re-emerged mid-Thursday as the Dow slid over 1,000 points on concern that rising interest rates will drag down economic growth.

Thursday’s 3.8% loss took the S&P 500’s decline since its Jan. 26 record past 10%, meeting the accepted definition of a correction. The Dow finished the day down by 1,032.89 points, or 4.15% at 23,849.23. Ten-year Treasury yields fluctuated near their four-year highs.

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