The S&P 500 Index ($SPX) (SPY) Thursday closed down -0.89%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.43%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.68%. US stocks gave up an early advance on Thursday and moved lower as bond yields rose and after the US manufacturing PMI fell to the lowest level in 8 months. Stocks were also weighed down by speculation that Fed Chair Powell, in his comments at the Jackson Hole Fed symposium on Friday, will downplay the need for a 50 bp rate cut at next month’s FOMC meeting. The S&P 500 and Nasdaq 100 Thursday initially posted 1-m…