The S&P 500 Index ($SPX) (SPY) Thursday closed down -0.54%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.53%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.68%.
Stock indexes on Thursday settled moderately lower, with the Dow Jones industrials posting a 2-1/2 week low. Rising bond yields weighed on stocks Thursday after the 10-year T-note yield climbed to a 2-1/2 week high. Losses in stock index futures deepened on signs of stagflation after US weekly jobless claims unexpectedly rose to an 8-week high, and Nov producer prices rose more than expected at the fastest pace in 1-3/4 years. Also, the weakness in chip stocks weighed on the overall market.
