Stocks Finish Day With Hefty Losses

Dow falls 167
By Newser Editors and Wire Services
Posted Jun 29, 2017 3:11 PM CDT
Stocks Finish Day With Hefty Losses
Trader Neil Catania works on the floor of the New York Stock Exchange during the Blue Apron IPO, Thursday, June 29, 2017.   (AP Photo/Richard Drew)

US stocks are finishing with hefty losses on another day of widespread selling among technology companies, the AP reports. Apple fell 1.5% Thursday and internet gear maker Cisco Systems lost 2.1% after it lowered its guidance. Investors also sold big-dividend stocks as bond yields jumped. Household products maker Procter & Gamble dropped 1.6%. Big banks rose after the Federal Reserve said that they can buy back more stock and raise their dividends. Bond yields and interest rates also jumped. Citigroup climbed 2.8% and Regions Financial added 4%. The Standard & Poor's 500 index shed 21 points, or 0.9%, to 2,419. The Dow Jones industrial average retreated 167 points, or 0.8%, to 21,287. The Nasdaq composite dropped 90 points, or 1.4%, to 6,144. (More stock market stories.)

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