U.S. stocks closed out their ugly April with even more losses, cementing the market’s worst month since September.
The S&P 500 fell 1.6% Tuesday to pull it further from its record set at the end of March. The Dow Jones Industrial Average dropped 1.5%, and the Nasdaq composite sank 2%.
Treasury yields rose again to up the pressure on stocks after a report showed workers won bigger gains in pay and benefits during the start of the year than expected. Such hotter-than-expected data has diminished traders’ expectations for how many times the Federal Reserve may cut interest rates this year.
On Tuesday:
The S&P 500 fell 80.48 points, or 1.6%, to 5,035.69.
The Dow Jones Industrial Average fell 570.17 points, or 1.5%, to 37,815.92.
The Nasdaq composite fell 325.26 points, or 2%, to 15,657.82.
The Russell 2000 index of smaller companies fell 42.12 points, or 2.1%, to 1,973.91.
For the week:
The S&P 500 is down 64.27 points, or 4.2%.
The Dow is down 423.74 points, or 5%.
The Nasdaq is down 270.08 points, or 4.4%.
The Russell 2000 is down 28.09 points, or 7.1%.
For the year:
The S&P 500 is up 265.86 points, or 5.6%.
The Dow is up 126.38 points, or 0.3%.
The Nasdaq is up 646.47 points, or 4.3%.
The Russell 2000 is down 53.17 points, or 2.6%.
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