How major US stock indexes fared Tuesday, 4/30/2024

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.