Tech leads stocks lower; bond yields rise

Tech leads stocks lower; bond yields rise

Tech leads stocks lower; bond yields rise

Losses in technology and health care companies helped pull USA stocks lower, breaking an eight-day winning streak for the Dow Jones industrial average.

CHINA FACTOR: President Donald Trump tweeted Sunday that he was working with President Xi Jinping of China to put Chinese telecom ZTE "back into business, fast" after US sanctions threatened ZTE's existence and 70,000 Chinese jobs.

The Dow Jones industrial average gained 114 points, or 0.5 percent, to 24,941.

The S&P 500 declined 0.7 percent to 2,711.45 as health care and real estate stocks lagged. The Nasdaq Composite closed at 7,351.63 for a loss of -59.69 points or -0.81%.

The yield on the benchmark 10-year note ripped through the four-year high it hit three weeks ago, finishing 9 bps above yesterday's close at 3.08% for its highest close since July 2011, and the two-year yield gained 4 bps to 2.58%, its highest close since July 2008.

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The Dow Jones industrial average fell 193 points to close at 24,706.41, with Home Depot among the biggest contributors of losses. Smaller rival Lowe's Companies Inc (LOW.N) was down 1.0 percent.

Banks, which stand to prosper because of higher interest rates on loans, bucked the downward trend.

The prospect of higher mortgage rates weighed on home builders, while the rise in bond yields sent stocks that pay high dividends lower.

The surge came after the Commerce Department said retail sales climbed 0.3 percent in April and revised March sales growth upward, to 0.8 percent from 0.6 percent. Eastern Time. The Dow lost 245 points, or 1 percent, to 24,653. Small-company stocks also rose.

Technology and health care companies took some of the worst losses.

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Laurel " and celebs are debating what they hear in this clip that is spreading like insane ! "My wife heard yanny". I listened 10 times and cant figure out how anyone hears laurel", one person Tweeted.

Retail sales reported a monthly increase of 0.3%.

US stocks ended lower on Tuesday as the closely-watched 10-year Treasury yield reached new highs.

The S&P 500 index rose 9 points, or 0.3 percent, to 2,736. Australia's S&P/ASX 200 lost 0.6 percent to 6,097.80.

MARKETS OVERSEAS: In Europe, Germany's DAX fell 0.1 percent after new data showed the country's economy slowed in the first quarter. Mortgage rates, which have been rising this year, tend to track the movement in the 10-year Treasury yield. The S&P 600 closed at 982.43 for a gain of 0.30 points or 0.03%.

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To Airbus' point, one finding against the USA now remains before the WTO, which concerns a Washington state tax measure. The EU will now take "swift action to ensure it is fully in line with the WTO's final decision in this case", she said.

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