The Dow Jones Industrial Average relinquished its hold on a modest year-to-date gain for 2018 in midday trade Tuesday, as blue chips retreated sharply lower amid a rise in benchmark interest rates. The Dow was down 1%, or 240 points, at 24,658, down about 0.3% for the year, according to FactSet data. The 10-year Treasury note yielding about 3.07%, marking its highest rate since 2011 and rattling investors worried that climbing rates will advance faster than economy’s rate of growth in the ninth year of expansion. Rising rates also undercut appetite for stocks, encouraging buying in perceived risk-free assets like Treasurys. A yield higher than 3% for the 10-year government bond is viewed as a psychological, round-number level that would cause the most friction between those weighing the benefits of risk assets and the perceived safety of government paper. Meanwhile, the S&P 500 index was down 0.8% at 2,707, holding on to its 1.3% year-to-date return, while the Nasdaq Composite Index was off 1% at 7,335 for the session, but still up 6.3%, so far in 2018.