Catalyst Funds Chief Investment Officer David Miller in The Wall Street Journal

Treasury Yields Rise, S&P 500 Extends April Slide

Bond yields rose and stocks mostly slumped Thursday as investors continued to adjust to the idea that interest rates may not come down this year.

The S&P 500 lost 0.2%, its fifth straight daily decline. The Nasdaq Composite dropped 0.5%. Both have shed nearly 5% so far in April. The Dow Jones Industrial Average gained less than 0.1%, or 22 points. The blue-chip index’s 5.1% fall this month has wiped out nearly all of its 2024 advance.