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Business

Stocks down slightly after morning slide

A Wall Street street sign near the New

A Wall Street street sign near the New York Stock Exchange in Manhattan on Aug. 9, 2011. Photo Credit: AP

Stocks closed slightly lower after recouping much of an early slump.

At the close on Wall Street, the Standard & Poor's 500 index was down 6.2 points, about 0.3 percent, at 2,099.1. The Dow Jones industrial average was off nearly 37 points, about 0.2 percent, at 18,068.2. The Nasdaq composite had given up 17.4 points, about 0.4 percent, to 4,976.2.

As the markets closed, the price of a barrel of U.S. benchmark crude, was up about $1.13, about 2 percent, to $60.38 a barrel on the New York Mercantile Exchange.

Investors are beginning to worry about a global sell-off in government bonds that has been driving long-term borrowing costs higher. The benchmark U.S. bond yield touched its highest level since November.

The Dow Jones industrial average lost 36 points, or 0.2 percent, to 18,068 Tuesday.

The Standard & Poor's 500 index gave up six points, or 0.3 percent, to 2,099. The Nasdaq composite declined 17 points, or 0.4 percent, to 4,976.

AOL soared 19 percent after Verizon said it would buy the company. Gap sank 4 percent after saying the strong dollar was hurting its revenue.

European government bond prices fell, pushing yields higher.

Oil rose $1.50 to $60.75 a barrel in New York.

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