Dow closes more than 100 points lower in post-Labor Day session as interest rates pop; European markets close marginally higher as investors assess economic challenges 
U.S. stocks slumped on Tuesday in a volatile trading session as investors weighed what strong economic data and rising rates mean for the Federal Reserve’s aggressive tightening campaign. 
The Dow Jones Industrial Average fell 173.14 points, or 0.55%, to close at 31,145.30, but was off the lows of the day, boosted by defensive stocks such as Johnson & Johnson and Coca-Cola. The S&P 500 slipped 0.41% to 3,908.19. The Nasdaq Composite slid 0.74% to 11,544.91, notching its seventh day of losses, its longest since 2016. 
At the same time, bond yields surged, adding to the rout in stocks. The yield on the U.S. 10-year Treasury jumped as much as 0.162 percentage point to 3.353% at one point in the day. Yields move inversely to prices. 
The transportation giant slipped 2.5% after Citi downgraded FedEx to neutral from buy. The bank anticipates slower volume ahead for FedEx and cited macro headwinds and challenges in the freight industry among the reasons for the downgrade. 
Telecom giant Verizon raised its quarterly dividend to 65.25 cents per share from 64 cents per share — a 2% increase. The new dividend will be payable Nov. 1. The move comes as Verizon shares struggle this year, losing 20% in 2022. The stock is also off by 7% over the past month and 25% below its 52-week high. 

The pan-European Stoxx 600 ended the day up 0.2%, with the majority of sectors and all major bourses in the black. Retail stocks were the best performing of the day, closing up 1.7%. 
Shares of Belgian automobile distribution company D’Ieteren Group climbed more than 9% in early trade to lead the Stoxx 600 after reporting strong first-half earnings, while British retailer Marks & Spencer added 7.5% to lead a broad advance for retail stocks. 
Source: CNBC, Investing.com