Dow down 160

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Stocks are down sharply in trading on Thursday.

Near 10:25 a.m. ET, the Dow was down 138 points, the S&P 500 was down 15 points, and the Nasdaq was down 43 points — all by less than 1%.

Meanwhile the Japanese yen is still going strong against the dollar, dropping to as low as 107.93.

US treasury yields were also dropping as investor demand for them rose. The benchmark 10-year yield fell 4 basis points to as low as 1.708%.

And, the 2-year yield fell three basis points to as low as 0.704%, the weakest level in nearly two months.

In economic data, initial jobless claims fell to 267,000 last week from 276,000, more than expected.

Later on Thursday, Federal Reserve chair Janet Yellen will speak in New York with all her living predecessors.

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