Markets Right Now: Stocks fall as bond yields rise further

The latest on developments in financial markets (all times local):

4:00 p.m.

U.S. stocks are closing lower as a three-day surge in government bond yields has investors worrying about rising interest rates.

The Labor Department said the economy continues to add jobs at a strong pace. Investors sold bonds, sending their prices lower.

The yield on the 10-year Treasury note rose to 3.24 percent, its highest since mid-2011.

The S&P 500 fell a further 16 points, or 0.6 percent, to 2,885. On Thursday it took its largest loss since June.

The Dow Jones Industrial Average fell 180 points, or 0.7 percent, to 26,447. The Nasdaq composite fell 91 points, or 1.2 percent, to 7,788.

The Nasdaq fell more than 3 percent this week, its worst in six months.

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11:45 a.m.

U.S. stocks are lower Friday as investors continue to worry about rising bond yields and interest rates.

The Labor Department said the economy continues to add jobs at a strong pace, which makes it likely rates will keep rising.

The yield on the 10-year Treasury note rose to 3.22 percent, a seven-year high.

After its worst loss since June on Thursday, the S&P 500 fell a further 19 points, or 0.6 percent, to 2,882.

The Dow Jones Industrial Average fell 220 points, or 0.8 percent, to 26,406. The Nasdaq composite fell 105 points, or 1.3 percent, to 7,774.

9:35 a.m.

U.S. stocks are opening higher while bond prices are falling again after the Labor Department said the economy continues to add jobs at a strong pace.

The federal government said Friday that employers added more jobs in July and August than it previously thought, which made up for weaker totals in September.

Investors expect continued economic growth and higher interest rates over time. The yield on the 10-year Treasury note rose to 3.22 percent, a seven-year high.

After its worst loss since June, the S&P 500 added 3 points, or 0.1 percent, to 2,904.

The Dow Jones Industrial Average rose 20 points, or 0.1 percent, to 26,648. The Nasdaq composite fell 9 points, or 0.1 percent, to 7,869.