NASDAQ

Dow erases its 2017 gains as stocks fall and bond yields climb

Dow erases its 2017 gains as stocks fall and bond yields climb

The Dow Jones industrial average erased its 2017 gains Thursday as it fell for the fifth day in a row, part of a pullback for stock indexes as Treasury yields continued their upward march.

Losses were widespread, with three stocks falling on the New York Stock Exchange for every one that rose. Utilities, real estate investment trusts and others that pay big dividends were among the hardest hit because their payouts look less attractive when bond yields are rising. Small-company stocks took outsize losses.

The Dow fell 72.23 points, or 0.4%, to 19,732.40, slightly lower than where it finished 2016. Still, it's not far from its record closing high of 19,974.62 set one month...

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