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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

(Newser) – 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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