Stocks Relinquish Early Gains and Close Lower as Bond Yields Climb

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What you need to know… The S&P 500 Index ($SPX) (SPY) Thursday closed down -0.88%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.73%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.91%. Stock indexes Thursday gave up an early advance and closed moderately lower. Bond yields erased early declines and moved higher Thursday on hawkish comments from Richmond Fed President Barkin, which sent stocks tumbling. Richmond Fed President Barkin said with inflation in the U.S. still elevated, the Fed needs to “stay the course” to ensure that inflation falls back to its 2% target. Afte…

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