Tech sector weakness and rising bond yields weighed on equities after the latest US-China diplomatic meeting concluded.
Wall Street indices closed lower Friday, pressured by a sell-off in technology shares and a rise in US Treasury yields. The Dow dropped 0.9%, while the S&P 500 fell 0.8%, reflecting investor caution following the US-China summit’s outcome.
The decline follows a week of mixed signals on trade relations, with yields on 10-year Treasuries climbing to multi-week highs. Tech stocks, typically sensitive to interest rate movements, led the downturn as investors reassessed risk amid shifting monetary policy expectations.
Markets showed limited immediate reaction to the summit’s conclusions, focusing instead on the broader macroeconomic backdrop and Federal Reserve policy cues.