woman slip winter

A tech selloff pulled stocks lower Friday, as investors brooded over dampening demand for smartphones. Inflation fears pushed bond yields to a three-year high. 

Here’s the scoreboard:

Dow Jones Industrial Average: 24,451.03 −213.86 (-0.87%)

S&P 500: 2,667.01 −26.12 (-0.97%)

Nasdaq: 7,146.13 −91.93 (-1.27%)

  1. Technology stocks extended losses on concerns about slowing global demand for smartphones
  2. Apple dragged the tech sector lower, shedding more than 4%. That’s after Morgan Stanley downgraded the stock, citing weak iPhone demand in China.
  3. A weeklong oil rally paused after President Donald Trump took a swipe at OPECBrent sank more than 1% at session lows, but pared losses by the end of the day. 
  4. Shares of Snap jumped about 3% to $15.28. The uptick came after Credit Suisse raised its price target for the company. 
  5. The 10-year Treasury yield climbed above 2.95% for the first time since January 2014.  A spike in the Philly Fed’s prices paid index and news that weekly jobless claims edged lower stoked inflation jitters this week. 

SEE ALSO: The indicator with an almost perfect record of predicting US recessions is edging towards a tipping point

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