The market gave up an early gain Thursday and turned lower in late morning trading, then stayed down for the rest of the day.
The Dow Jones industrial average fell 75 points, or 0.5 percent, to close at 16,368.
The Standard & Poor's 500 index fell 10 points, or 0.6 percent, to 1,909. The Nasdaq composite fell 20 points, or 0.5 percent, to 4,334.
Phone companies had some of the biggest losses.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.41 percent, the lowest it's been all year.
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