Rising US Treasury yields trigger a sell-off, dragging the NASDAQ, S&P 500, and Dow Jones lower in early trading.
US stock indices fell sharply in early trading Friday as Treasury yields surged, reigniting concerns over higher borrowing costs. The NASDAQ Composite dropped nearly 1.4%, while the S&P 500 and Dow Jones Industrial Average declined between 0.5% and 1% at the open.
The move extends a volatile week for equities, with yields climbing amid shifting expectations for Federal Reserve policy. Earlier sessions saw mixed performance, but Friday’s rise in yields weighed heavily on technology and growth stocks, which are particularly sensitive to rate movements.
No immediate market reaction data beyond the initial sell-off was reported, though futures suggested continued pressure as yields remained elevated.