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Stocks Post Broad Losses After Strong Economic Data

Published by: dailynews
Published on:

Stocks and bonds sold off on Thursday after another round of strong economic data solidified expectations of further interest-rate increases.

The S&P 500 and the tech-heavy Nasdaq Composite each shed 0.8%. The Dow Jones Industrial Average dropped 366 points, or 1.1%. All 11 sectors of the S&P 500 closed in the red.

It was the worst performance since May.

The benchmark 10-year Treasury yield rose to 4.04%, from 3.942% late Wednesday. The two-year yield climbed to 5.004%, from 4.949%, as prices fell.

Read the full story on The Wall Street Journal here.