US stocks closed lower as interest rate concerns mount

Wall Street’s main indices closed lower on Thursday amid a broad sell-off after data showing labor market strength boosted bond yields and fueled fears that the Federal Reserve (the US central bank) will aggressively raise interest rates.

According to “Reuters”, based on preliminary data, the Standard & Poor’s 500 index closed down 35.41 points, or 0.80 percent, at 4411.41 points, and the Nasdaq Composite Index fell 113.64 points, or 0.82 percent, to 13678.01 points. The Dow Jones Industrial Average fell 370.90 points, or 1.08 percent, to 33,917.74 points.