Loading…
Friday, November 28, 2014
Current Weather
Loading Current Weather....
Published: Monday, 6/24/2013 - Updated: 1 year ago

China slump, higher bond yields weigh on markets

Dow Jones falls 180 points in early trading

ASSOCIATED PRESS

More signs of distress in China’s economy and rising U.S. bond yields are weighing on U.S. stocks in midday trading.

The Dow Jones industrial average was down 223 points, or 1.5 percent, to 14,576 at noon today.

The Standard & Poor’s index fell 29 points, or 1.8 percent, to 1,563. The Nasdaq composite fell 55 points, or 1.7 percent, to 3,302.

The selling was broad: 96 percent of the stocks in the S&P 500 fell, led by banks and materials companies.

An increase in China’s commercial lending rates brought new worries about China’s finances. China’s Shanghai Composite Index plunged 5 percent.

In the United States, the yield on the benchmark 10-year Treasury note jumped from 2.54 percent to 2.60 percent, its highest level in almost two years.



Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.

Related stories