Tech stocks pulls market lower as bond yields climb again

Tech stocks pulls market lower as bond yields climb again

Stocks were mostly lower in afternoon trading Friday as technology stocks, which had spent most of the week holding steady or climbing, fell broadly. The move was once again caused by a rise in bond yields as the 10-year Treasury note’s yield jumped above 1.60%. The S&P 500 was down 0.3%. The Dow Jones Industrial Average was up 0.5%, lifted by industrial stocks Boeing and Caterpillar. The technology-heavy Nasdaq was down 1.1%. Even with the modest losses, all three indexes are on pace to end the week up 2% or more.

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