The Globe and Mail reports in its Wednesday edition that North American stock indexes ended sharply lower on Tuesday as U.S. economic data underscored the view the Federal Reserve may need to keep interest rates high, sending bond yields to fresh 16-year highs. A Reuters dispatch to The Globe says that data showed U.S. job openings unexpectedly increased in August, fuelling worries about a tight labour market ahead of Friday's key U.S. monthly jobs report. Yields on benchmark U.S. 10-year notes reached 4.806 per cent, up more than 10 basis points. Government of Canada bond yields rose more dramatically, as investors played catch-up with moves in U.S. Treasuries. The 10-year was fetching 4.318 per cent by late afternoon, up about 28 basis points for the day. The five-year bond was up 22 basis points. With the 10-year at its highest since 2007, "it's hard to believe that's a full percentage point higher than on Canada Day, just three short months ago," BMO economist Sal Guatieri said in a note. Also at BMO, Robert Kavcic noted the Canada five-year yield is now threatening to break above levels of 2007. The S&P/TSX Composite Index ended down 156.26 points at 19,020.92, its lowest closing level since October, 2022.