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S&P Suffers Longest Weekly Losing Streak in Decade: Markets Wrap

  • U.S. posts robust job gains, data offer mixed inflation signs
  • Treasury 10-year yields remain above 3%; dollar advances
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Market Wrap: S&P Has Worst Losing Streak in a DecadeSource: Bloomberg
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Volatility continued to dominate financial markets, with stocks pushing lower as the latest U.S. jobs data cemented expectations the Federal Reserve will remain on its rate-hike path to combat stubbornly high inflation.

At the end of a week marked by fickle trading, quick reversals and heightened anxiety, the S&P 500 failed to stay in the green and fell to its lowest level in about a year. The gauge posted its fifth straight weekly drop -- the longest losing streak since June 2011. The tech-heavy Nasdaq 100 underperformed. Treasury 10-year yields remained above 3%, while the dollar rose. Gasoline futures in New York settled at a record high.