Stocks Stumble

Thursday,Wall Street fell sharply for the third straight session. Rising bond yields deflated hopes for an interest rate cut later in the year. The S&P 500 index fell below the 1500 mark and the Dow Jones industrials fell nearly 200 points. I am sure everyone got nervous. The Treasury's 10-year note yield passed 5 percent Thursday and closed 5.13 percent, its highest point since mid-July. This move unnerved investors who contend that the Federal Reserve will be less inclined to cut short-term interest rates.