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Trader Michael Capolino works on the floor of the New York Stock Exchange, Thursday, Oct. 11, 2018. The market's recent decline was set off by a sharp drop in bond prices and a corresponding increase in yields last week and early this week. (Richard Drew/AP)

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NEW YORK — U.S. stocks sank more than 2 percent Thursday, the second day of steep declines around the globe driven by concerns about rising interest rates and trade tensions.

By MARLEY JAY, AP Markets Writer October 11, 2018