US stocks edge lower amid bond market volatility

US stocks edge lower amid bond market volatility


3 photos

Estimated read time: Less than a minute

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

NEW YORK (AP) — U.S. stocks are closing slightly lower after recouping much of an early slump.

Investors are beginning to worry about a global sell-off in government bonds that has been driving long-term borrowing costs higher. The benchmark U.S. bond yield touched its highest level since November.

The Dow Jones industrial average lost 36 points, or 0.2 percent, to 18,068 Tuesday.

The Standard & Poor's 500 index gave up six points, or 0.3 percent, to 2,099. The Nasdaq composite declined 17 points, or 0.4 percent, to 4,976.

AOL soared 19 percent after Verizon said it would buy the company. Gap sank 4 percent after saying the strong dollar was hurting its revenue.

European government bond prices fell, pushing yields higher.

Oil rose $1.50 to $60.75 a barrel in New York.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Photos

The Associated Press

    SIGN UP FOR THE KSL.COM NEWSLETTER

    Catch up on the top news and features from KSL.com, sent weekly.
    By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Policy.

    KSL Weather Forecast