Stocks get whacked after the 10-year hits 3%

Stocks nosedived Tuesday, with the Dow Jones industrial average sinking 600 points at session lows. The selling came after the 10-year Treasury yield hit 3%, spooking markets. The dollar edged lower after a week of gains.
Here's the scoreboard: 
Dow Jones Industrial Average: 24,023.93 −424.76 (-1.74%)
S&P 500: 2,623.41 −46.88 (-1.76%)
AUD/USD: 0.7609 +0.0002 (+0.03%)
ASX 200 SPI futures: 5,869.0 -5 (-0.09%)The 10-year T