S&P 500 Drifts Lower as 10-Year Yield Nears 5% — SkimNews
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- S&P 500 was little changed in Friday trading as Treasury yields rose, with the index heading for a losing week
- 10-year Treasury yield hovered near 5% as Wall Street drifted lower and oil prices swung, with the Dow posting weekly losses alongside the S&P 500
Why it matters: The 10-year yield sitting near the 5% threshold is the binding constraint here—both the Dow and S&P 500 posting weekly losses while yields rise signals that higher borrowing costs are overtaking any tailwind equities might otherwise have, making the bond market the active force driving this week's selloff.
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