Wall Street Drifts Lower Amid Rising Bond Yields and Oil Prices

Wall Street finished the week on a mixed note, with the S&P 500 rising 0.2% after trading in a narrow range throughout the day.

The benchmark index suffered its second consecutive weekly decline as investors grappled with higher bond yields and oil prices.

The yield on the 10-year Treasury climbed to 5%, a level not seen since 2023, adding pressure on stocks and other investments.

Higher yields make borrowing more expensive for consumers, businesses, and governments, slowing down economic growth.