Stocks fell again Thursday, deepening Wall Street’s losses for the week, as central banks around the world hiked interest rates to fight inflation.
The S&P 500 fell 0.8 percent, its third straight drop. The benchmark index is down about 3 percent so far this week.
The Dow Jones Industrial Average fell 0.4 percent and the Nasdaq composite lost 1.4 percent. The Russell 2000 index of smaller company stocks fell 2.3 percent, a sign investors are worried about the economy. The major indexes are on pace for their fifth weekly loss in six weeks.
Bond yields mostly rose. The yield on the 2-year Treasury, which tends to follow expectations for Federal Reserve action, rose significantly to 4.11 percent from 4.02 percent late Wednesday. It is trading at its highest level since 2007. The yield on the 10-year Treasury, which influences mortgage rates, jumped to 3.70 percent from 3.51 percent from late Wednesday….