Dollar, Interest Concerns Send Stocks Down Again
NEW YORK, April 23ÛÓThe stock market posted its second straight loss today amid worries about the outlook for the dollar and interest rates.</br></br>A late round of buying concentrated in blue chips enabled the market to finish well above its midsession lows, however.</br></br>The Dow Jones average of 30 industrials, down about 20 points at one stage, finished with a 1.37 loss at 1,829.61. The average took a 24.92-point drop Tuesday. Volume on the New York Stock Exchange slowed to 149.69 million shares from 161.51 million Tuesday.</br></br>As the dollar tumbled Tuesday in foreign exchange, bond prices fell and interest rates rose in the credit markets. Today, prices of long-term bonds dropped another $10 to $15 for every $1,000 in face value.</br></br>Analysts said traders were concerned that a declining dollar would dampen foreign demand for U.S. securities such as Treasury bonds.