Stock Market News: Dow Drops
The stock market was sliding again on Tuesday to close out its worst month since the fall.
The Dow Jones Industrial Average was down 419 points, or 1.1%. The S&P 500 was down 1%. The Nasdaq Composite was down 1.2%.
The 2-year Treasury yield rose to 5.021%, while the 10-year yield was up to 4.671%. Yields spiked after the employment cost index came in hotter than expected.
The Invesco S&P 500 Equal Weight ETF, which weighs each S&P 500 stock the same, fell 1.1%. Only 73 S&P 500 stocks were trading higher on the day.
The big three indexes have risen in every month since October. But the Dow is up only 0.7% in 2024. The S&P 500 is up 6.2% this year, while the Nasdaq is up 5.2%.