Updated from 1:54 p.m. EDTBonds rose and the dollar slumped Thursday, as the market's concern du jour switched from inflation to growth following weak numbers on durable goods and new-home sales. The economic data also contributed to pressure on the stock market, which remained in the red after more bad news for General Motors ( GM), which is now being investigated by the Securities and Exchange Commission. The Dow Jones Industrial Average was recently down 71 points, or 0.7%, to 10,275. The blue-chip average was under pressure from weakness in GM, which slumped 5%, as well as declines in Johnson and Johnson ( JNJ) and Home Depot ( HD). The S&P 500 was down 7 points, or 0.6%, to 1185. The Nasdaq Composite was down 26 points, or 1.3%, to 2079. The benchmark 10-year Treasury bond, which has been falling sharply this week, was up 4/32 in recent action while its yield, which moves inversely to price, fell back to 4.57%. The bond's yield rose to 4.60% on Wednesday, near its March highs. The dollar, meanwhile, was down 0.6% vs. the euro and 0.5% vs. the yen. Both bonds and the greenback have been tumbling this week after Monday's nomination of perceived dove Ben Bernanke as the next Federal Reserve chairman. The outlook for higher rates has lent major support for the dollar this year. A higher growth outlook and rising bond yields in Europe and Japan have also pressured the greenback and U.S. bonds this week. Long-term bonds, meanwhile, have been correcting on concerns that inflation, which erodes the value of fixed-return assets over time, may be running ahead of the Fed's tightening. Energy prices, which first soared after hurricanes Katrina and Rita hit the Gulf Coast, have fanned the fire. But economic data Thursday shined a spotlight on the storms' other impact: its hit to growth. That was particularly evident in the durable goods report.