U.S. stocks suffer another week of losses, Dow ends lowest since November 2020 as bond yields hammer equities after Fed rate hike

All three major benchmarks suffered another week of losses as bond yields rose in the wake of the Federal Reserve’s interest rate hike on Wednesday. The 10-year Treasury note TMUBMUSD10Y, 3.687% dipped one basis point Friday to end at 3.695%, after surging Thursday to its highest rate since February 2011. The Dow Jones Industrial Average ended Friday at its lowest closing value since Nov. 20, 2020. The S&P 500 ended Friday up 0.7% from its June 16 low of 3666.77 on June 16.

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