(Bloomberg) -- Australian stocks dropped, snapping
five days of gains, after the U.S. Standard & Poor's 500 Index
posted its steepest decline in two weeks after higher bond yields
renewed concern the world's largest economy will slow.
Australia & New Zealand Banking Group Ltd. fell after local
bond yields rose, making their dividends less attractive. Westfield
Group led declines among companies that rely on U.S. sales.
Read more at Bloomberg Stocks News
five days of gains, after the U.S. Standard & Poor's 500 Index
posted its steepest decline in two weeks after higher bond yields
renewed concern the world's largest economy will slow.
Australia & New Zealand Banking Group Ltd. fell after local
bond yields rose, making their dividends less attractive. Westfield
Group led declines among companies that rely on U.S. sales.
Read more at Bloomberg Stocks News
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