US stocks move lower amid bond market volatility

AP News
Posted: May 12, 2015 11:55 AM
US stocks move lower amid bond market volatility

NEW YORK (AP) — U.S. stocks are edging lower in midday trading after recouping much of an early slump.

A global slide in bond prices is getting investors worried that borrowing costs could rise.

The Dow Jones industrial average lost 23 points, or 0.1 percent, to 18,082 as of 11:45 a.m. Eastern time Tuesday.

The Standard & Poor's 500 index gave up six points, or 0.3 percent, to 2,098. The Nasdaq composite declined 18 points, or 0.4 percent, to 4,975.

AOL soared 19 percent after Verizon said it would buy the company. Gap sank 4 percent after saying the strong dollar was hurting its revenue.

European government bond prices fell, pushing yields higher. U.S. bond yields have also been rising since late April.

Oil rose $1.29 to $60.54 a barrel in New York.