Stocks Close Down For Fourth Straight Day

NEW YORK (August 19, 2013)--The Dow Jones industrial average fell 70 points, or 0.5 percent, to close at 15,010 Monday as stocks closed down for a fourth straight trading day, the first time this year that’s happened.

The Standard & Poor's 500 index fell nine points, or 0.6 percent, to close at 1,646.

Technology stocks fell less than the rest of the market.

The Nasdaq composite index edged down 13 points, or 0.4 percent, to end at 3,589.

Retail stocks fell after Saks reported a wider loss and banks fell after the Federal Reserve said they needed to raise more funds.

Investors are getting worried about higher interest rates.

The yield on the 10-year Treasury note rose to 2.88 percent.

Four stocks fell for every one that rose on the New York Stock Exchange where volume was light.


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