Stocks Fall, Bond Yields Rise

U.S. stocks closed lower as a three-day surge in government bond yields has investors worrying about rising interest rates, the AP reports. The Labor Department said the economy continues to add jobs at a strong pace. Investors sold bonds, sending their prices lower. The yield on the 10-year Treasury note rose to 3.24%, its highest since mid-2011. The S&P 500 fell a further 16 points, or 0.6%, to 2,885. On Thursday it took its largest loss since June. The Dow Jones Industrial Average fell 180 points, or 0.7%, to 26,447. The Nasdaq composite fell 91 points, or 1.2%, to 7,788. The Nasdaq fell more than 3% this week, its worst in six months. (More stock market stories.)