Stocks end higher, still log worst month since March 2020

Stocks closed higher Monday, but still logged their worst monthly loss since the early days of the pandemic, as Wall Street closes a tumultuous January wracked by worries that imminent interest-rate hikes will make everything in markets more challenging.

The S&P 500 rose 1.9%, but it’s still down 5.9% since setting a record exactly four weeks ago.

It lost 5.3% this month, its worst since falling 12.5% in March 2020, when it hit bottom after the pandemic suddenly shut down the global economy.

The yield on the 10-year Treasury rose to 1.79% from 1.77% Friday.