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Stocks End Broadly Lower

Banks fell more than the rest of the market
By Newser Editors and Wire Services
Posted Oct 31, 2019 3:16 PM CDT
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Specialist Anthony Rinaldi, left, and trader Timothy Nick work on the floor of the New York Stock Exchange, Wednesday, Oct. 30, 2019.   (AP Photo/Richard Drew)

(Newser) – Stocks are closing modestly lower on Wall Street, but the S&P 500 was still on track for a weekly gain after closing at record highs twice this week, the AP reports. Banks fell more than the rest of the market Thursday as bond yields plunged, making it harder for banks to make money from mortgages and other loans. Citigroup lost 1.5%. The yield on the 10-year Treasury fell to 1.68% from 1.79% a day earlier, a big move. The S&P 500 fell 9 points, or 0.3%, to 3,037. The Dow Jones Industrial Average fell 140 points, or 0.5%, to 27,046. The Nasdaq fell 11 points, or 0.1%, to 8,292. (Read more stock market stories.)

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