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US Stocks Fall As Bond Yields Hit High Dividend Stocks
US Stocks Fall As Bond Yields Hit High Dividend Stocks
US Stocks Fall As Bond Yields Hit High Dividend Stocks
Decliners outpaced advancers on the NYSE by a ratio of nearly 4 to 1. On the Nasdaq, about
17 stocks fell for every eight that rose.
Both the S&P telecoms sector index <.SPLRCL> and the S&P utilities sector index <.SPLRCU> fell
1.5 percent. The S&P consumer staples index <.SPLRCS> tumbled 1.9 percent while the S&P
health care index <.SPXHC> declined 1.5 percent.
At the same time, the iShares Barclays 20+ Year Treasury Bond exchange-traded fund added 1.1
percent, bouncing back from a drop of 2.6 percent on Tuesday.
Loose monetary policies by central banks around the world have lifted stock markets, driving both
the Dow and the S&P 500 to record highs this year.
The S&P 500 is up 15.6 percent from its close at the end of 2012.
Among the day's gainers, Smithfield Foods surged 28.4 percent to $33.35 after China's Shuanghui
Group agreed to buy the company for $34 a share.
SLM Corp rose 2.2 percent to $23.48 after the student loan provider said it would split the company
into two publicly traded entities. The company named John Remondi as its chief executive officer. Reuters
http://biz.thestar.com.my/news/story.asp?
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