The Dow Jones Industrial Average on Friday was on track to shed about 950 points for the week, which would be its steepest weekly slide since January 2016, when it shed 1,079 points, according to FactSet data. The Dow was down 560 points, or about 2.1%, early Friday as Treasury yields gathered steam following an upbeat jobs report. On a percentage basis, the weekly decline, 3.7%, would also be the worst for the blue-chip gauge since the 6.2% weekly decline also in early January of 2016. Rising yields can undercut appetite for assets perceived as risky, including stocks. The S&P 500 index , meanwhile, was down 1.8%, at 2,772, while the Nasdaq Composite Index is giving up 1.5% at 7,280.
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From:: Stock Market News