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Stocks racked up more losses on Wall Street and Treasury yields again rose to multiyear highs Thursday as investors looked ahead to a closely watched job market report from the government that could influence the Federal Reserve’s next move in its fight to bring down inflation.
Technology stocks led the market pullback, which came a day after the central bank raised its benchmark rate for the sixth time this year and signaled that it may need to keep hiking rates for some time before its can successfully squash the highest inflation in decades.
The S&P 500 fell 1.1 percent, while the Dow Jones Industrial Average dropped 0.5 percent. The tech-heavy Nasdaq composite closed 1.7 percent lower. The declines extended the major indexes’ losing streak to a fourth day. They’re each on pace for a weekly loss....