Tech Giants Keep a Lid on Stocks as Yields Climb: Markets Wrap
- Consumer year-ahead inflation expectations unexpectedly fall
- US producer-price inflation picks up on boost from services
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A renewed slide in tech megacaps and mixed economic data left stocks struggling for direction on Friday. Bond yields rose.
In a choppy trading session, the S&P 500 closed at a one-month low with a drop of just 0.1%. The Nasdaq 100 notched its longest weekly losing streak this year, hovering around 15,000. It last finished below that mark in June. Nvidia Corp. — which has more than tripled in 2023 — extended a four-day decline to 10%. The Dow Jones Industrial Average posted a mild gain.