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Stock market today: Dow in second weekly loss despite ending higher as yields jump By Investing.com

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Stock market today: Dow in second weekly loss despite ending higher as yields jump

Powell leans hawkish to push Treasury yields higherFriday, Powell said “restrictive” monetary policy is called for to achieve the Fed’s 2% inflation target.

Bringing inflation back to target is expected to “require a period of below trend economic growth as well as some softening and labor market conditions,” the Fed chief added.Treasury yield briefly rising close to the cycle highs of 5.12%.Tech briefly came under pressure from rising Treasury yields, which makes growth sectors like tech with higher valuations less attractive, as Google (NASDAQ:

 

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