Wall Street slides toward weekly decline
On Friday, Wall Street indices experienced declines, with expectations of recording weekly losses, despite markets rebounding after the Federal Reserve's first interest rate hike in three years. The S&P 500 fell by 0.2%, the Dow Jones dropped about 244 points (0.5%), while the Nasdaq remained nearly unchanged. The decline came amid rising U.S. Treasury bond yields, with the 10-year yield surpassing 5% for the first time since July 2007, putting pressure on stocks. Nonetheless, oil prices increased, with West Texas Intermediate nearing $103 and Brent crude exceeding $104. Market performance is expected to remain mixed, as investors overcome inflation fears and rising interest rates, focusing on Federal Reserve officials' statements regarding the future of monetary policy.
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