Dow falls more than 400 points, Nasdaq loses more than 2% as yield spike hits tech stocks; European markets close lower as tech stocks fall sharply; Stoxx 600 down 2% 
U.S. stocks fell on Tuesday, with tech names dragging down the broader markets as Treasury yields traded near three-month highs and lawmakers in Washington continued their budget stalemate. 
The Nasdaq Composite dropped 2.4%, on track for its worst day since May, and the S&P 500 shed 1.7%. The Dow Jones Industrial Average lost 467 points, or about 1.3%. 
The 10-year Treasury yield continued its speedy climb on Tuesday, rising as high as 1.558% as investors bet the Fed would carry through on its promise to curb its emergency bond-buying stimulus as inflation jumps. The 10-year yield has reversed dramatically to the highest levels since June since the Fed signaled last week it would taper its $120 billion in monthly bond purchases “soon.” 
Federal Reserve Chair Jerome Powell told the Senate Banking Committee on Tuesday that inflation could persist longer-than-expected due to supply chain issues and reopening pressures. 

The pan-European Stoxx 600 closed down by around 2% provisionally, with tech stocks dropping 4.4% to lead the losses. 
In terms of individual share price movement, Italian systems integration company Reply tumbled 9.6% while Finnish software firm QT Group fell 10.9%. 
Source: CNBC, Investing.com