The Dow on Tuesday fell 425 points (1.73%) and the Nasdaq was off 121 points (1.7%). But it could have been worse, as the Dow at one point was down more than 600.
10-year Treasury yields hit 3% for the first time since 2014, which could cause some investors to take money out of stocks and put it into bonds.
Big tech carnage driven by Wall Street analysts lowering Google profit estimates. The so-called FANG stocks (Facebook, Amazon, Netflix and Google) were each down and lost a combined $84 billion in market value.
Caterpillar CFO Bradley Halverson told analysts that Q1 would be "the high watermark for the year." Caterpillar easily beat quarterly earnings estimates, but still finished down more than 6%.
