Rates jitters still plague market
WALL Street stocks slid yesterday as interest rates rose in bond trading amid jitters that this week's stream of new US economic data might upset an optimistic outlook for inflation.
The Dow Jones fell back below the 6000 mark again after shedding an early 36 point advance.
The market spotlight was on this week's economic reports, which include key readings on US employment costs, the manufacturing sector, and the nation's overall third quarter growth.
The Standard and Poor's 500 stock index fell 3.67 to 697.25, and the NYSE's composite index fell 2.28 to 370.98.
The Nasdaq composite index fell 6.70 to 1215.90, and the American Stock Exchange's market value index fell 3.24 to 566.55.