Interest Rate Worries Send Markets Lower

Wed., June 9, 1999

From Staff

The fear of higher interest rates returned to Wall Street Tuesday after a three-session hiatus, sending blue-chip stocks and bond prices sharply lower.

The Dow Jones industrial average fell 143.74, more than wiping out Monday’s solid gains.

Broader stock indicators also ended lower. The Standard & Poor’s 500 dropped 17.19 to 1,317.33, and the technology-dominated Nasdaq composite index fell 49.71 to 2,474.50.

Major market averages rallied in recent days as new economic data suggested the nation’s unprecedented growth may be continuing without rising inflation.

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Interest Rate Worries Send Markets Lower

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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