S&P 500 in Big Weekly Loss as Tech Bulls Scatter on Rate Hike Jitters By Investing.com – Investing.com

S&P 500 in Big Weekly Loss as Tech Bulls Scatter on Rate Hike Jitters By Investing.com – Investing.com

By Yasin Ebrahim

Investing.com – The S&P 500 closed down Friday, marking its worst weekly start to a year since 2016 amid pressure from tech stocks as Treasury yields continued to rally on rate hike expectations despite a mixed monthly job report.

The fell 0.4% taking the weekly loss to 1.9%. The slipped 0.01%, or 4.8 points, the Nasdaq lost 1%.