For The Dow, It Was A Week To Forget

NEW YORK (August 16, 2013)—Stocks closed down Friday at the end of a tough week, hurt by retailers and companies sensitive to rising interest rates.

The Dow Jones industrial average had its worst week of the year.

The Dow edged down 30 points, or 0.2 percent, to close at 15,081.

The Standard & Poor's 500 index fell five points, or 0.3 percent, to end at 1,655.

The Nasdaq eased three points, or 0.09 percent, to close at 3,602.

The possibility of a cutback in the Federal Reserve's massive bond-buying program in September roiled the bond market.

The 10-year Treasury note rose to 2.83 percent, its highest level since July 2011.

A week ago, the yield was 2.58 percent.

Shares of utilities and telecommunications companies, which typically perform poorly in a higher interest-rate environment, closed broadly lower.


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