US markets declined yesterday amid concerns about rising Treasury yields and the prospect of more rate hikes.

The S&P 500 lost 23 points, or 0.6%, to end at 4,124 points, while the Nasdaq Composite lost 174 points, or 1.4%, to 12,144. The Dow Jones Industrial Average fell 86 points, or 0.3%, to 32,912.

The Dow closed lower for a sixth-straight week, matching a run of weekly declines from April-May 2019. The Dow last closed down seven straight weeks from May July 2001. The S&P 500 and Nasdaq also ended down for a fifth week in a row, which is their longest losing streaks since May-June 2011 and October-November 2012.

The Labor Department presented stronger-than-expected jobs data with nonfarm payrolls increasing by 428,000 jobs in April, versus expectations of 391,000 job additions, underscoring the economy's strong fundamentals despite a contraction in the gross domestic product in the first quarter.

The unemployment rate remained unchanged at 3.6% in the month, while average hourly earnings increased 0.3% against a forecast of a 0.4% rise.