Rise in interest rates spark panic on Wall Street

Stock Market Closes Down 424 Points: Dow Jones Industrial Average Drops For Fifth Consecutive Day

The Dow Jones Industrial Average on Wednesday ended modestly higher, buoyed primarily by a surge in shares of component Boeing Co.

Social media giant Twitter Inc (NYSE:TWTR) rose 3.5% to US$31.55 in pre-market trading after its first quarter numbers topped expectations.

The Dow rose 59 points, or 0.4 percent, to 24,083.

The Dow Jones industrial average shed as many as 620 points in mid-morning amid fears of steeper borrowing costs in America, which could force up the cost of mortgages, vehicle loans and other debt in Britain.

The S&P 500 dropped 35.73 points, or 1.3 percent, to 2634.56.

The Nasdaq composite dipped 3.61 points, or 0.1 percent, to 7,003.74.

3M, the industrial products manufacturer, reported less-than-ideal earnings today: The $2.50 earnings per share and $8.3 billion sales fell in line with estimates, but the company said its full-year earnings might be lower than expected.

This is why YouTube removed more than 8 million videos
Later in the year, parents will be able to handpick channels that reach beyond the partners YouTube selects. The company says its machine learning processes can take several days to evaluate a video.

Facebook to hold public consultations to improve community guidelines
The company is publishing detailed guidelines about what it will allow to be published on its service - and what it will not. New policies will, for the first time , allow people to appeal a decision to take down an individual piece of content.

American Airlines Articles, Photos, and Videos
When police brought in a golf cart to take him outside, Garcia allegedly slumped to the ground to impede the officers. When one officer tried to lift Garcia up, he reached for the officer's handgun repeatedly.

The market finds itself in a more cautious stance heading into Wednesday's open, with all three leading indexes having been shut down by resistance at their 50-day moving averages. And while futures on the Nasdaq-100 Index (NDX) are up, as well, the S&P 500 Index (SPX) looks set to open in negative territory.

Higher rates, which are rising on expectations of stronger US economic growth and inflation, are also helping shore up the dollar. That optimism helped send stocks to record highs in January. Shares of the company were up more than 4% at the clothes and continued climbing in after-hours trading. JPMorgan hiked the Dallas-based chipmaker's price target to 132, from 122, following a healthy first-quarter beat reported last Tuesday. Investors are now adjusting their positions to see how the economy responds to rising interest rates, what corporations will do with those earnings, and how higher levels of inflation affect the mix. Earlier this month, JPMorgan CEO Jamie Dimon suggested a sharp rise in interest rates to halt economic growth and increase unemployment.

Later in the day Caterpillar stock fell 6.2 percent after Chief Financial Officer Bradley Halverson said the company's first quarter would be "the high-water mark for the year" during a conference call. The Nasdaq gave up 25 points, or 0.4 percent, to 6,979. The euro rose to $1.2237 from $1.2205.

Wholesale gasoline fell 0.2 percent to $2.09 a gallon.

The Russell 2000 is down 10.84 points, or 0.7 percent. Heating oil rose 0.4 percent to $2.14 a gallon.

In European trading, London's FTSE was down 0.67%.

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