Markets Close: US Today

30-year yield back above 5.25% — a rapid reversal that erased yesterday's Treasury buyback relief in a single session and put equities on the defensive.

Market Movers

• Dow Jones Industrial Average closed down over 400 points after two strong data points landed at the same time and were sold on delivery.
• Philadelphia Fed Manufacturing Index surged to 47.4 in August from 41.4, a huge upside surprise against a 25 consensus.
• **Weekly Jobless...