Nasdaq tumbles 3% as soaring yields hit tech shares, S&P 500 closes 1.5% lower, European markets close higher as investors monitor U.S. bond yields, vaccine programs 
Technology shares led the U.S. stock market lower on Thursday as a spike in bond yields fueled concern about equity valuations and prompted investors to sell growth-focused high flyers. 
The Nasdaq Composite dropped 3% to 13,116.17 for its worst day since Feb. 25 as Apple, Amazon and Netflix all fell more than 3%. Tesla slipped nearly 7%. The S&P 500 slid 1.5% to 3,915.46, falling from a record closing high reached in the previous session. The Dow Jones Industrial Average fell 153.07 points, or 0.5%, to 32,862.30 after hitting a new intraday record earlier in the day amid a rally in bank stocks. 
The 10-year Treasury yield jumped 11 basis points above 1.75% at its session high, reaching its highest level since January 2020. 
Investors also digested a mixed bag of economic data Thursday. Weekly initial jobless claims totaled 770,000 for the week ended March 13, worse than an estimate of 700,000, according to economists polled by Dow Jones. 

The pan-European Stoxx 600 closed up by about 0.4% after a choppy trading session. Basic resources stocks were the top performers, climbing 2%. Germany’s DAX was the standout performer in the region and rallied to a record high during Thursday’s trade. 
German pharmaceutical company Sartorius saw its shares jump 8.2% after raising its 2021 guidance, with spin-off Sartorius Stedim Biotech gaining 6.2%. 
At the bottom of the European blue chip index, Swiss online pharmacy Zur Rose Group fell 12.6% after its full-year earnings report. 
Source: CNBC