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The Boston Globe

Business

Snapshot: Dow posts its worst week of the year

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Stocks fell Friday, closing out the worst week of the year for the Dow. The market was dragged lower by weak performance from retailers and companies sensitive to higher interest rates. Homebuilders and banking stocks were among the best performers. Stocks had a decent start to the week, but investors were hit hard the last three days. The Dow retreated 2.2 percent for the week, its worst in 2013. The S&P 500 had its second-worst performance of the year. The possibility of a cutback in the Fed’s bond-buying program in September has roiled the bond market, which has spilled over into stocks. Rising bond yields affect the cost of borrowing.

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