Markets Close Lower

Dow, S&P 500, Nasdaq all lower for the day
By Newser Editors and Wire Services
Posted Jun 9, 2016 3:16 PM CDT
Markets Close Lower
Specialist Jorge Fernandez. left, works with traders Daniel Trimble, center, and Mark Muller on the floor of the New York Stock Exchange, Friday, June 3, 2016.   (AP Photo/Richard Drew)

Stocks are closing lower on Wall Street as the market pulls back after three days of gains, the AP reports. Banks led the declines Thursday as long-term interest rates fell, which will make lending money less profitable. Wells Fargo and Bank of America each fell 2%. Restoration Hardware plunged 21% after reporting a big drop in earnings. JM Smucker rose 8% after reporting strong quarterly results. The Dow Jones industrial average fell 19 points, or 0.1%, to 17,985. The Standard & Poor's 500 index dropped 3 points, or 0.2%, to 2,115. The Nasdaq composite index declined 16 points, or 0.3%, to 4,958. (Read more Dow Jones stories.)

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