Woofun AI reports that U.S. stock markets opened sharply lower on Wednesday, with all three major indices posting losses exceeding 1% in midday trading. The Dow Jones Industrial Average fell 1.57%, shedding over 500 points at its session low, while the S&P 500 dropped 1.07% and the Nasdaq Composite slid 1.09%.

Market participants cited rising bond yields, renewed inflation concerns, and cautious remarks from Federal Reserve officials as key drivers dampening expectations for near-term interest rate cuts.

Additionally, weaker-than-expected corporate earnings from several large-cap companies and geopolitical uncertainties contributed to the broad-based selling pressure across sectors.