Weekly losses in the S&P 500 were driven by tech sector declines amid shifting Treasury yields and risk-off sentiment.
The S&P 500 closed the week 1.43% lower, led by losses in technology stocks as Treasury yields stabilized and risk sentiment waned. Friday’s session saw a rebound, with the index rising 0.4%, while the Dow Jones Industrial Average and Nasdaq Composite also posted gains of 0.9% and 0.4%, respectively.
Healthcare and energy sectors outperformed, supported by vaccine developments and elevated oil prices linked to U.S.-Iran tensions. Despite the weekly decline, analysts noted valuations appeared cheaper, with fundamentals remaining intact. Bitcoin (BTC) experienced volatility but ended the week on stronger footing.
Market participants attributed the pullback to temporary profit-taking and shifting duration trades rather than a broader downturn in sentiment.