The Globe and Mail reports in its Thursday edition that U.S. and Canadian stocks tumbled in a broad sell-off on Wednesday as Alphabet shares slid on disappointing earnings. A Reuters dispatch to The Globe says that U.S. Treasury yields rose, reviving fears that interest rates could stay higher for longer. The benchmark S&P 500 Index notched its fifth daily decline in six to close below the closely watched 4,200 level. Nasdaq slumped to its biggest single-session percentage drop since Feb. 21, with interest-rate-sensitive megacaps weighing heavily the index. Shares of Alphabet plunged after reporting disappointing cloud services revenue, reviving fears of an economic slowdown. Benchmark Treasury yields resumed their upward drift, edging closer to the 5-per-cent level, feeding fears high interest rates could linger. The S&P/TSX Composite Index made it six consecutive declines Wednesday, closing at 18,947.85, down 38.64 points, its lowest closing level since October last year. The Bank of Canada on Wednesday held its benchmark rate at a 22-year high of 5 per cent as expected but left the door open to more increases, saying price risks were on the rise and inflation could exceed its target for another two years.