Dow and S&P 500 decline over 1% as higher yields weigh on tech shares after US-China summit concludes.
Wall Street’s major indices closed lower Friday, pressured by a tech sector selloff and rising US Treasury yields. The Dow fell 1%, while the S&P 500 declined 1.2%, marking their worst daily performance in over a week.
The move followed the conclusion of the US-China summit, which failed to ease investor concerns over trade tensions. Treasury yields climbed, reducing the appeal of high-growth tech stocks, which led the broader market decline.
No immediate market reaction was reported beyond the session’s losses, as investors await further developments in trade negotiations and economic data.