US stocks sink during a quiet trading week
Markets were in a bit of a summer lull last week and trading volume was thin. Investor unease about the likelihood of the Federal Reserve paring back on its monetary easing appears to be growing, causing stocks to lose some ground. For the week, the Dow Jones Industrial Average fell 1.5% to 15,425, the S&P 500 Index dropped 1.7% to 1,691 and the Nasdaq Composite declined 0.8% to 3,660. In fixed income markets, Treasury yields were little changed, with the yield on the 10-year Treasury dropping from 2.60% to 2.58% (yields move in the opposite direction of prices).