Investment Figures Of The Week
Falling bond prices gave equity investors a tough week. The yield on the 30-year U.S. Treasury bond rose to 5.36%, the highest level in five months. That put selling pressure on stocks. The Dow industrials lost about 2%, the S&P 500 dropped 3.8%, and both are now slightly below their 1998 closing prices. The tech-driven NASDAQ Composite gave up 7.4% over the week, but still has better than a 5% gain for the year. Internet stocks took big hits: Yahoo! fell 20.5%, Amazon.com, 22.5%, and eBay, 23.8%.
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