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Heavy selling hurts Dow
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September 2, 1999: 4:10 p.m. ET
Interest rates, inflation fears keep investors nervous ahead of jobs report
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NEW YORK (CNNfn) - The U.S. stock market rebounded off its lows Thursday but ended the day with across-the-board losses as jittery investors kept selling on fears about rising interest rates and inflation because of new retail sales figures and an upcoming jobs report.
According to preliminary data, the Dow Jones industrial average lost 97.84 points to 10,840.04. Losers trounced gainers by 2,093 to 831 on trading volume of 676 million shares.
The Nasdaq Composite fell 16.80 points to 2,734 and the S&P 500 index lost 13.23 to 1,317.84.
The bond market also suffered losses, pressured by a weakening dollar, strong August chain-store sales reports, and speculation that Friday's August employment report could show unexpected strength and persuade the Federal Reserve that another interest rate increase is necessary before the end of the year.
The bellwether 30-year Treasury bond dropped 23/32 of a point in price, raising the yield to 6.13 percent. The dollar continued to slide against the yen and was lower against the euro. 
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