Wall Street fell for a third straight day as rising yields in the bond market keep cranking up the pressure.
The S&P 500 lost 0.8 percent Thursday, with August on track to be its worst month of the year by far. The Dow fell 290 points, or 0.8 percent, and the Nasdaq composite gave back 1.2 percent.
Stocks broadly have retreated in August, in part because a swift rise in bond yields is forcing a reassessment of how much to pay for them.
The 10-year Treasury yield, which helps set mortgage rates, is nearly back to where it was in 2007.
On Thursday:
The S&P 500 fell 33.97 points, or 0.8 percent, to 4,370.36.
The Dow Jones Industrial Average fell 290.91 points, or 0.8 percent, to 34,474.83.
The Nasdaq composite fell 157.70 points, or 1.2 percent, to 13,316.93.
The Russell 2000 index of smaller companies fell 21.46 points, or 1.1 percent, to 1,850.06.
For the week:
The S&P 500 is down 93.69 points, or 2.1 percent.
The Dow is down 806.57 points, or 2.3 percent.
The Nasdaq is down 327.92 points, or 2.4 percent.
The Russell 2000 is down 75.06 points, or 3.9 percent.
For the year:
The S&P 500 is up 530.86 points, or 13.8 percent.
The Dow is up 1,327.58 points, or 4 percent.
The Nasdaq is up 2,850.45 points, or 27.2 percent.
The Russell 2000 is up 88.81 points, or 5 percent.
