China slump, higher bond yields weigh on markets
World BusinessJun 25, 2013
More signs of distress in China's economy and rising bond yields led to a broad sell-off in stocks Monday, leaving key market indexes down more than 5 percent from their record highs last month.It was the first 5 percent decline - referred to on Wall Street as a ``pullback'' - since November.Pullbacks that occur during bull markets tend to be ``nasty and brutish'' _ but short, said John Manley, chief equity strategist at Wells Fargo Funds Management. He said it's common to get declines of 3 perc