Stocks Finish Day With Hefty Losses

Dow falls 167
By Newser Editors and Wire Services
Posted Jun 29, 2017 3:11 PM CDT
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)

(Newser) – 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. (Read more stock market stories.)

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