Wall Street fell for a third straight day as rising yields in the bond market keep cranking up the pressure.
The S&P 500 lost 0.8% Thursday, with August on track to be its worst month of the year by far. The Dow fell 290 points, or 0.8%, and the Nasdaq composite gave back 1.2%.
Stocks broadly have retreated in August, in part because a swift rise in bond yields is forcing a reassessment of how much to pay for them.
The 10-year Treasury yield, which helps set mortgage rates, is nearly back to where it was in 2007.
On Thursday:
The S&P 500 fell 33.97 points, or 0.8%, to 4,370.36.
The Dow Jones Industrial Average fell 290.91 points, or 0.8%, to 34,474.83.
The Nasdaq composite fell 157.70 points, or 1.2%, to 13,316.93.
The Russell 2000 index of smaller companies fell 21.46 points, or 1.1%, to 1,850.06.
For the week:
The S&P 500 is down 93.69 points, or 2.1%.
The Dow is down 806.57 points, or 2.3%.
The Nasdaq is down 327.92 points, or 2.4%.
The Russell 2000 is down 75.06 points, or 3.9%.
For the year:
The S&P 500 is up 530.86 points, or 13.8%.
The Dow is up 1,327.58 points, or 4%.
The Nasdaq is up 2,850.45 points, or 27.2%.
The Russell 2000 is up 88.81 points, or 5%.
Sourse: abcnews.go.com
