Economics
U.S. Stocks Fall as Treasuries Extend Slump: Markets Wrap
- Reported U.S. probe of China hack roils Asia technology shares
- Hiring falls short of estimates, pace of wage gains cools
This article is for subscribers only.
U.S. stocks capped the worst week in a month, as the selloff in Treasuries that took yields to seven-year highs persisted amid speculation the latest jobs report clears the path for raising interest rates.
Technology shares led losses Friday, sending the Nasdaq 100 Index to a weekly drop of 3 percent amid concern the U.S.-China trade spat will intensify. Eight of 11 sectors declined in the S&P 500. Intel Corp. dropped the most in the Dow Jones Industrial Average after Bloomberg’s report on Chinese hacking. Stocks began the day higher after the employment data added to confidence in the strength of the American economy.