U.S. stocks fall sharply on interest rates worries

11:41 am ET Jun 6, 2007

DJIA

13,483

-111.83

S&P

1,518

-12.11

NASDAQ

2,588

-23.07

10Yr

4.97%

-0.004

TRADING CENTER

U.S. stocks fall sharply on interest rates worries

NEW YORK
U.S. stocks fell sharply Wednesday, with the Dow Jones Industrial
Average losing over 100 points, as news that unit labor costs jumped in
the first quarter fueled concerns over inflation, interest rates and
rising bond yields, further sapping enthusiasm in the market.

Economic Report: Productivity revised lower to 1% gain in first quarter

WASHINGTON
The productivity of the U.S. workplace slowed sharply in the first
quarter as output throttled back, the Labor Department reported
Wednesday.
Glaxo defends diabetes drug ahead of congressional hearing.

LONDON
GlaxoSmithKline released a study defending the safety of its diabetes
drug Avandia ahead of a hearing in Congress questioning how the drug won
regulatory approval in the first place.