Stocks pulled back from the record highs they’ve been setting as bond yields continued to fall and investors turned cautious.
The S&P 500 fell, with technology, financial and industrial companies taking some of the biggest losses. The yield on the 10-year Treasury note fell again. The benchmark yield, which is used to set rates on mortgages and many other kinds of loans, has been falling steadily in recent weeks as traders shift money into bonds.
The S&P 500 fell 37.31 points, or 0.9%, to 4,320.82.
The Dow Jones Industrial Average fell 259.86 points, or 0.7%, to 34,421.93.
The Nasdaq fell 105.28 points, or 0.7%, to 14,559.78.
The Russell 2000 index of smaller companies fell 21.17 points, or 0.9%, to 2,231.68.
For the week:
The S&P 500 is down 31.52 points, or 0.7%.
The Dow is down 364.42 points, or 1%.
The Nasdaq is down 79.54 points, or 0.5%.
The Russell 2000 is down 74.08 points, or 3.2%.
For the year:
The S&P 500 is up 564.75 points, or 15%.
The Dow is up 3.815.45 points, or 12.5%.
The Nasdaq is up 1,671.50 points, or 13%.
The Russell 2000 is up 256.82 points, or 13%.