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April 2, 2024

Stocks mostly lower as bond yields jump on strong manufacturing data

By STAN CHOE
AP Business Writer

NEW YORK — Most U.S. stocks slipped Monday after a surprisingly strong report on U.S. manufacturing cast doubts on how much interest rates can ease this year.

The S&P 500 dipped 10.58 points, or 0.2%, from its all-time high to finish at 5,243.77. The Dow Jones Industrial Average dropped 240.52 points, or 0.6%, from its record to 39,566.85. The Nasdaq composite was an outlier and added 17.37, or 0.1%, to 16,396.83.


 
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