Dow drops by more than 600 points following lackluster treasury auction
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The Dow Jones Industrial Average extended its decline on Wednesday, soon after the results of a $16 billion sale of 20-year Treasury bonds came in. The Dow was down by more than 600 points,
or 1.4%, after the auction results pointed to lackluster demand. Investors had been concerned that potential buyers would stay away from Wednesday's sale because of worries about the
U.S.'s fiscal trajectory. Meanwhile, the S&P 500 was off by about 45 points, or 0.8%, while the Nasdaq was down roughly 81 points, or 0.5%, after its earlier gains vanished.