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Dow Ends Day Down 63

Nasdaq's weeklong winning streak ends
By Newser Editors and Wire Services
Posted Jan 12, 2017 3:11 PM CST
Dow Ends Day Down 63
Trader Jeffrey Vazquez, center, works on the floor of the New York Stock Exchange, Thursday, Jan. 12, 2017.   (AP Photo/Richard Drew)

(Newser) – Bank stocks led a decline on Wall Street, wiping out much of the market's gains from a day earlier, the AP reports. Banks were hurt by a drop in bond yields Thursday, which will lower interest rates on loans and squeeze banks' profits. Zions Bancorporation lost 2.2%. Energy and technology stocks also lost ground. Hess slumped 5% and chipmaker Micron Technology fell 2.1%. The Dow Jones industrial average fell 63 points, or 0.3%, to 19,891. The Standard & Poor's 500 index gave back 4 points, or 0.2%, to 2,270. The Nasdaq composite dropped slipped 16 points, or 0.3%, to 5,547, breaking a seven-day winning streak. (Read more Dow Jones stories.)

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