Job Cuts Weigh Down Markets

The markets turned negative during the midday over concerns that AT&T will eliminate up to 10,000 jobs after acquiring BellSouth. The Dow dropped 59 points to 10,962. Nasdaq lost 15 points to 2,288. S&P 500 fell 7 points to 1,280. The 30-year bond slipped as the yield rose to 4.710%.