US stocks were sharply lower in midday on Tuesday, deepening a global sell-off as investors worry that a long winning streak has pushed valuations too far.
Wall Street was on track for its largest two-day loss in more than five months, with highflying healthcare stocks leading the decline, following steep falls in Asia and Europe earlier in the trading day.
Sovereign bond prices came under further pressure, with the yield on the 30-year Treasury bond approaching 3 per cent for the first time since May.
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