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VOL. 46 | NO. 21 | Friday, May 27, 2022

Stocks slide as strong economic data raises rate worries

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NEW YORK (AP) — A swift jump in Treasury yields rattled Wall Street Wednesday, weighing down stock indexes at the start of another month in what's been a turbulent year.

The S&P 500 fell 0.7% after an early morning gain quickly vanished.

Stocks began their slide immediately after the release of several reports on the U.S. economy, including one showing manufacturing growth was stronger last month than expected.

That bolstered investors' expectations for the Federal Reserve to continue raising interest rates aggressively to slow the economy in hopes of reining in inflation.

Treasury yields rose sharply, sending the yield on the 10-year note up to 2.92%.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0