News Summary: Dow logs worst week of year

Published on NewsOK Modified: August 16, 2013 at 5:20 pm •  Published: August 16, 2013

A BAD WEEK: The Dow Jones industrial average slumped to its worst week this year as retail stocks pulled down the stock market. Overall the index fell 2.2 percent for the week.

TWO-YEAR HIGH: Rising bond yields are concerning investors. The yield on the 10-year Treasury note, a benchmark for borrowing costs, climbed again and reached highest since July 2011. Speculation that the Federal Reserve is poised to pull back on its stimulus program is prompting investors to dump bonds.

NORDSTROM SALE: Nordstrom slumped after the retailer gave a bleak sales outlook late Thursday that echoed similar forecasts from Wal-Mart and Macy's earlier this week.