There’s room for stock markets to fall further as bond yields approach levels that have been painful for equities in recent years. The US 10-year Treasury yield climbed to levels just shy of 4.7%, the highest since April after an almost uninterrupted surge of more than one percentage point since mid-September.

Shares of Dayforce Inc. DAY slid 3.40% to $71.23 Tuesday, on what proved to be an all-around rough trading session for the stock market, with the S&P 500 Index SPX falling 1.11% to 5,909.03 and Dow Jones Industrial Average DJIA falling 0.

Good news on the U.S. economy is back to being bad for Wall Street, and the stock market is sinking Tuesday toward its worst day in nearly three weeks following better-than-expected reports on the job market and business activity.