Stock Indexes Close Lower

But tech stocks rebound

By Newser Editors and Wire Services

Posted Sep 7, 2018 3:30 PM CDT

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Stock Indexes Close Lower — FILE- This April 5, 2018, file photo shows a building's address on Wall Street in New York. The U.S. stock market opens at 9:30 a.m. EDT on Thursday, Sept. 6. (AP Photo/Richard Drew, File)

US stock indexes are closing lower Friday after a surprisingly strong jobs report pushed investors to gird for higher interest rates, the AP reports. Investors sold high-dividend stocks as bond yields rose, and tech stocks rebounded from recent losses. Tesla slumped 6.3% after its chief accounting officer quit after only a month, and CEO Elon Musk was seen appearing to smoke marijuana during an interview.

The S&P 500 lost 6 points, or 0.2%, at 2,871; the Dow Jones fell 79 points, or 0.3%, at 25,916; and the Nasdaq composite is dropped 20 points, or 0.3%, at 7,902. The yield on the 10-year Treasury note jumped to 2.94% from 2.87% late Thursday.

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