(AP) Stocks closed modestly higher on Wall Street, while bond markets around the world felt pain after a surprise move from Japan’s central bank cranked the pressure even higher on the already slowing global economy.
The S&P 500 closed 0.1% higher Tuesday after flipping between small losses and gains in the morning.
The biggest action was in the bond market, where yields pushed higher after one of the world’s last bastions of super-low and economy-aiding interest rates made moves that could allow rates to climb more than otherwise. Higher rates slow the economy and drag down on prices for stocks and other investments.
The S&P 500 rose 3.96 points, or 0.1%, to 3,821.62.
The Dow Jones Industrial Average rose 92.20 points, or 0.3%, to 32,849.74.
The Nasdaq rose 1.08 points, or less than 0.1%, to 10,547.11.
The Russell 2000 index of smaller companies rose 9.44 points, or 0.5%, to 1,748.02.
For the week:
The S&P 500 is down 30.74 points, or 0.8%.
The Dow is down 70.72 points, or 0.2%.
The Nasdaq is down 158.30 points, or 1.5%.
The Russell 2000 is down 15.40 points, or 0.9%.
For the year:
The S&P 500 is down 944.56 points, or 19.8%.
The Dow is down 3,488.56 points, or 9.6%.
The Nasdaq is down 5,097.86 points, or 32.6%.
The Russell 2000 is down 497.30 points, or 22.1%.