S&P 500 Index Has Biggest Weekly Loss in Three Months as Bond Yields Jump

(Bloomberg) -- U.S. stocks dropped, sending the
Standard & Poor's 500 Index to the steepest weekly loss
since a February rout, after bond yields at a 10-month high
sparked speculation that the Federal Reserve will raise
interest rates.

Utilities, which have the highest dividend yield in
the S&P 500, fell the most since October 2002. Goldman
Sachs Group Inc., the biggest U.S. securities firm by
market value, helped lead financial shares lower. Bigger
bond yields make stock dividends less attractive and reduce
demand for mortgages and other loans.


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