Stocks Drop as Yields Rise
By Kevin Spak,  Newser Staff
Posted Jun 8, 2009 8:58 AM CDT
A specialist talks on a phone at a post on the floor of the New York Stock Exchange Monday, June 1, 2009.   (AP Photo/Richard Drew)
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(Newser) – Stocks sunk at the open today, as traders demanded and got higher yields on government debt. The Dow tumbled 73% points, while the Nasdaq fell 1%, the S&P dropped 0.8%, and commodities retreated. The yield on 10-year Treasury notes, by contrast, moved up to 3.85%. Apple, meanwhile, declined 1.7% as investors watched to see if Steve Jobs would appear at its development conference.