Rising bond yields put pressure on stocks ahead of key data and earnings

U.S. stocks ended the week lower as rising long-term Treasury yields pressured technology shares. The Dow fell 0.85%, the S&P 500 dropped 1.43% and the Nasdaq declined 2.05%. The 30-year Treasury yield reached its highest level since 2007 before briefly retreating and then recovering.

Rate-sensitive growth stocks led the decline, with the Philadelphia Semiconductor Index falling about 5%. Investors remain focused on deficits, new debt supply, inflation risks and financing demands linked to artificial-intelligence investment.

Core PCE inflation, preliminary GDP, durable-goods orders and a Federal Reserve chair’s speech at Jackson Hole are among the week’s main tests. Earnings from Nvidia, Marvell Technology and other large technology companies will also provide updates on AI demand, enterprise spending and consumer activity.

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