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U.S. stocks open lower Friday, head for weekly losses after surge in Treasury yields

·1 min read
U.S. stocks open lower Friday, head for weekly losses after surge in Treasury yields

U.S. stocks opened sharply lower Friday, with all three major benchmarks heading for weekly losses in the wake of the Federal Reserve's large interest rate hike and a surge in Treasury yields. The Dow Jones Industrial Average was down around 1% soon after the opening bell, while the S&P 500 dropped 1.1% and the Nasdaq Composite dropped 1.1%, according to FactSet data, at last check. The yield on the 10-year Treasury note was up 2 basis points Friday morning at 3.71% after climbing Thursday to th