U.S. Stocks Edge Lower While Bonds Extend Losses: Markets Wrap
- Oil declines as U.S. production begins to comes back online
- Dollar weakens for second day versus most major currencies
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U.S. stocks finished mostly lower as benchmark Treasury yields climbed to the highest levels in a year, renewing concern that rising borrowing costs and price pressures could derail the economic recovery.
The S&P 500 Index turned negative in the final minutes of trading Friday, ending lower for the first week in three. Utilities and consumer staples led the declines, while the materials and energy sectors finished in the green. The tech-heavy Nasdaq 100 was weighed down by Microsoft Corp. and Facebook Inc.