The Dow Jones Industrial Average fell more than 400 points overnight, and U.S. bond yields hit a three-month high

The Dow fell more than 400 points overnight, recording its biggest one-day drop in a month. U.S. Treasury Bond yields hit a three-month high, and the 10-year U.S. Treasury Bond yield, which is sensitive to interest rate expectations, rose as high as 4.26%, a three-month high. The Bank of Canada announced a 0.5% cut in its overnight rate target to 3.75%.