: Dow Jones sheds 170 points, stocks post losses as bond selloff resumes

Stocks closed lower on Thursday for the first time in five session as a selloff in U.S. bonds resumed and a gauge of consumer prices came in hotter in September than expected. The Dow Jones Industrial Average DJIA shed about 173 points, or 0.5%, ending near 33,631, according to preliminary FactSet data. The S&P 500 index SPX shed 0.6% and the Nasdaq Composite Index COMP also fell 0.6%. A resumed selloff in longer-duration government bonds was viewed as pressuring stocks lower, with yields on the 10-year Treasury BX:TMUBMUSD10Y and 30-year Treasury note securing their biggest daily gains in more than a week. September’s consumer-price index also showed headline inflation was hotter than forecast, with the yearly rate steady at 3.7%. Thursday’s selloff in stocks underscored a familiar theme in markets in recent weeks, namely that investors remain wary of sharp increases in bond yields used to finance the U.S. economy.

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