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The Boston Globe

Business

Snapshot: Dow turns in a fifth straight losing day

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Early this month, stocks hit record highs. But Tuesday, the Dow had a 5th straight losing day. The S&P 500 and Nasdaq rose a bit, but it was their first time out of the red in four days. The slide may reflect a shift in investor strategy. Till June, bond funds were popular, but that was before the Fed chairman signaled a pullback in the $85 billion-a-month bond-purchase program may not be far off. As investors exit bonds, prices fall and yields rise. That makes dividend-paying stocks less attractive: Treasurys offer similar returns with less risk. REITs have been hit amid concern about interest rates, and there are worries about retailers and consumer spending.

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