Wall Street takes big hit, Dow Jones dives 388 points

NEW YORK, New York - There was a major bust on Wall Street on Tuesday as investors continued to fret over the prospect of longer term interest rate highs. The 10-year Treasury note on Tuesday was hovering around 16-year highs, an indication bond investors see rates remaining high for longer.

"The market is still trying to digest the potential for where that 10-year rate is going to finish," Jack Janasiewicz, port