Traders work on the floor of the New York Stock Exchange on Tuesday.
Traders work on the floor of the New York Stock Exchange on Tuesday. US stocks notched their first three-month losing streak since the start of the Covid-19 pandemic © Spencer Platt/Getty Images

US stocks notched their first three-month losing streak since the start of the Covid-19 pandemic, even as they closed higher on the final October trading session, a day before the Federal Reserve’s policy decision.

The S&P 500 advanced 0.6 per cent on Tuesday, while the tech-heavy Nasdaq Composite rose 0.5 per cent. The indices fell by 2.2 per cent and 2.8 per cent in October, respectively, their first three-month losing streaks since March 2020.

Stocks have endured a rough few weeks amid a bond market sell-off that has sent Treasury yields to multiyear highs.

The 10-year Treasury yield was up 0.05 percentage points to 4.93 per cent on Tuesday, up from 4.57 per cent at the end of September.

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