Higher Treasury yields and oil prices drove major indices lower, erasing earlier weekly advances and pushing small caps down over 2%.
US equities closed sharply lower as rising Treasury yields and oil prices weighed on sentiment. The Dow fell 537.07 points, or 1.07%, while the S&P 500 dropped 1.24% and the Nasdaq declined 1.54%. The Russell 2000 led losses with a 2.44% drop.
For the week, the Dow and Nasdaq ended slightly lower, while the S&P 500 eked out a modest gain. The Russell 2000 underperformed, falling 2.37% amid yield pressures. Large-cap decliners included Raytheon, Intel, and GameStop, while Nebius NV and Cisco posted strong gains.
Nvidia led the Magnificent 7 with a 4.7% weekly gain, driven by AI momentum, while Amazon and Tesla lagged. The broader market pullback reflected concerns over tighter financial conditions and energy costs.