The S&P 500 fell on Friday and headed for a losing week, even after the index rebounded following Wednesday’s first Federal Reserve interest rate hike in three years.
The Dow Jones Industrials stumbled 237.46 points to 51,540.58
The much-broader index skidded 16.96 points to 7,620.80.
The NASDAQ Composite deleted 40.32 points to 26,377.98.
With Friday’s moves, the major stock averages are on pace for a mixed week. The Dow is down by 2% this week, on track for a third straight losing week. The S&P 500 was also lower week-to-date by 0.5%. Only the tech-heavy NASDAQ is set to post weekly gains, up 0.3%.
Prices for the 10-year Treasury stumbled, raising yields to 5% from Thursday’s 4.93%. Treasury prices and yields move in opposite directions.
Oil prices gained 49 cents to $102.40 U.S. a barrel.
Gold prices sank $11.30 to $4,388.40 U.S. an ounce.
