Dow sinks another 500 points as 10-year bond yields rise to near 4-yr highs

Volatility measure VIX eases but remains elevated at 29.82

The Dow Jones Industrial Average sank another 500 points on Thursday as a renewed rise in US bond yields and fears of higher inflation unnerve investors still piecing over a historic drop earlier this week.

The 10-year US Treasury yield rose to a high of 2.884% in morning trade, nearing Monday's four-year peak of 2.885% after the Bank of England said interest rates probably need to rise sooner than previously expected.

That added to expectations that the world's major central banks are now firmly on course to wind down the emergency stimulus they have pumped through the financial system since 2009, driving