Around the World's Markets: New York

US STOCKS drifted lower as investors focused on rising long-term interest rates and looked toward to a jobs report due on Friday with hope that it will suggest the Federal Reserve's next move.

The Dow Jones Industrial Average closed off 21.73 points, or 0.23 per cent, at 9,275.88. It had spent much of the day swinging around in negative territory, with a decline in the US Treasury market adding pressure.