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Chicago Board Options Exchange Market Volatility Index
Stocks swoon on interest rate fears
Stocks swoon on interest rate fears

NEW YORK — A sudden jump in interest rates is casting a shadow over the stock market. Stocks fell sharply Friday as a persistent rise in rates over the last month threatened to derail the powerful rally this year in share prices. Despite notching its seventh consecutive monthly gain Friday, the Dow Jones industrial average fell more than 200 points on the last day of May as Wall Street grew increasingly alarmed at the upward trend in rates. The yield on the 10-year Treasury note climbed to 2.13% on Friday from 1.63% on May 2. Though yields remain low by historical standards, that's a big jump for a single month and pushed rates up to a level not seen in more than a year. ...