Market Snapshot: Dow books worst week in a month, U.S. stocks close lower after a weekly rise in Treasury yields and oil prices

by | Oct 20, 2023 | Stock Market

U.S. stocks ended down on Friday, booking their worst week in a month after a rise in Treasury yields as well as higher oil prices amid worries over the war in the Middle East.How stock indexes traded
The Dow Jones Industrial Average
fell 286.89 points, or 0.9%, to close at 33,127.28.

The S&P 500
shed 53.84 points, or 1.3%, to finish at 4,224.16.

The Nasdaq Composite
dropped 202.37 points, or 1.5%, to end at 12,983.81.

For the week, the Dow fell 1.6%, the S&P 500 declined 2.4% and the Nasdaq sank 3.2%. The tech-heavy Nasdaq logged back-to-back weekly losses, while the S&P 500 snapped two straight weeks of gains, according to Dow Jones Market Data. All three benchmarks booked their largest percentage weekly drops since the week ending Sept. 22.

What drove markets U.S. stocks suffered this week after the 10-year Treasury yield surged to near 5%, translating into higher borrowing costs that could slow economic growth. Treasury yields backed off a bit on …

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