After 2 Days of Gains, Dow Falls 30
Wall Street's roller coaster week ended on a downturn today amid a "double-witching" expiration of stock futures and options contracts and a jump in interest rates.</br></br>The Dow Jones average of 30 industrial stocks sank 30.45 points to end at 3492.83, as the key index retreated from Thursday's record high close of 3523.28.</br></br>The Dow gained 49.82 points in a wild week that saw record rallies and steep plunges, in part linked to the volatile trading of gold futures. Each rally in precious metals this week was viewed as a virtual confirmation that inflation was back - spooking a stock market that wanted to go higher.</br></br>Gold prices climbed again today, lifting the stocks of gold mining companies. On the New York Commodity Exchange, gold for current delivery rose $3.30 a troy ounce to $377.50.</br></br>The price of the benchmark 30-year Treasury bond fell 9/16 point, or $5.63 per $1,000 in face value. Its yield, which moves inversely from price, rose to 7.04 percent from 6.99 percent late Thursday. It was its highest level in nearly two months.