Summary
NEW YORK -- Wall Street fell sharply for a third straight session Thursday after rising bond yields deflated hopes for an interest rate cut later in the year. The Dow Jones industrials fell nearly 200 points, and the S&P 500 index fell below the 1,500 mark.
The yield on the Treasury's 10-year note passed 5 percent Thursday, reaching a close of 5.13 percent in New York, its highest point since mid-July. The move unnerved investors who contend the Federal Reserve will be less inclined to cut short-term interest rates.See the full content of this document
Extract
Dow's 3-Day Decline Reaches 410 Points
Stocks also fell as retailers turned in mixed sales results for May. While sales figures improved from t...
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