Nasdaq 100 Index Notches Gain After Worst Week Since October
- Markets have been rattled by soaring Treasury yields this week
- Chip stocks Micron, Applied Materials lift index on Friday
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The Nasdaq 100 Index rebounded Friday but still capped its worst week in nearly four months as a spike in U.S. Treasury yields triggered a selloff in big technology stocks that have skyrocketed during the pandemic.
The selling eased on Friday in New York with contracts on the benchmark gaining 0.6%. At one point this week the tech-heavy index accumulated a 6% drop -- its worst in almost a year -- as investors sold companies with high valuations, such as Facebook Inc., Apple Inc. and DocuSign Inc.