The move has also seen a drop in Treasury ETFs like the Vanguard Long-Term Treasury ETF (VGLT) and the iShares 10-20 Year Treasury Bond ETF(TLH). The Dow Jones Industrial Average dropped 410 points after closing at a record high in the previous session, losing more than 1.3%. “Our base case is that rates will continue to rise due to increasing growth and inflation expectations and, eventually, Federal Reserve normalization,” said Ryan Detrick, chief market strategist at LPL Financial.