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Stocks Fall as Investors Worried About Unemployment Claims and Inflation | national news




By KEN SWEET AP Business Writer

Stocks posted modest losses on Thursday, as investors had little reason to buy stocks amid discouraging economic data and bond yields steadily rising, which began to raise concerns about inflation.

The S&P 500 Index lost 17.36 points, or 0.4%, to 3,913.97. It was the third consecutive drop in the index. The Dow Jones Industrial Average lost 119.68 points, or 0.4%, closing at 31,493.34 and the high-tech Nasdaq Composite fell 100.14 points, or 0.7%, to 13,865. 36. The Russell 2000 for small businesses fell 1.7%, a significant drop for this index.

Energy prices fell for a second day, freezing temperatures that affected Texas and much of the Midwest moved east. Natural gas prices closed 4.3% lower. Energy prices have been volatile over the past week as record demand for natural gas and other fossil fuels to heat homes has spiked electricity prices. Natural gas is typically used as an on-demand fuel source to meet increased electrical needs.

Bond yields continue to climb, as murmurs of inflation have started among investors and the economy continues to emerge from the hole created by the pandemic. The yield on the 10-year US Treasury bill was 1.29%, almost double that of last fall. It is now trading at levels seen before the March 2020 pandemic stops.

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