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Stocks Close Lower on Wall Street

As investors shift money into bonds
By Newser Editors and Wire Services
Posted May 28, 2019 3:16 PM CDT
Trader Andrew Silverman, left, and specialist Anthony Matesic work on the floor of the New York Stock Exchange, Tuesday, May 28, 2019.   (AP Photo/Richard Drew)

(Newser) – Stocks turned broadly lower on Wall Street Tuesday as investors shifted money into bonds, sending yields to their lowest level in nearly two years, the AP reports. The Dow Jones Industrial Average fell 237 points, or 0.9%, to 25,347. The Dow had risen as much as 131 points earlier. The market is coming off its third straight weekly loss. US markets were closed Monday for the Memorial Day holiday. Bond prices rose and the yield on the 10-year Treasury dropped to 2.26%, its lowest level since September 2017. Falling yields are typically a sign that investors feel jittery about long-term economic prospects. The S&P 500 lost 23 points, or 0.8%, to 2,802. The Nasdaq fell 29 points, or 0.4%, to 7,607. Total System Services rose 4.8% after agreeing to be acquired by rival payment processer Global Payments. (Read more stock market stories.)

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