US stocks closed mixed on Friday, with the Dow Jones completing its worst week since March.
The S&P 500 and Nasdaq Composite posted declines for the third week in a row.
Meanwhile in Hong Kong, the Hang Seng Index closed in bear territory amid China concerns.
US stocks traded mixed at the close of Friday’s session, with each of the major indices capping off losing weeks amid a surge in bond yields.
The Dow Jones lost more than 2% this week, completing its worst week since March, while the S&P 500 and Nasdaq Composite saw their third straight week of losses.
The weekly declines came as the 10-year US Treasury yield on Thursday hit its highest level since 2007 amid signs that the Federal Reserve remains concerned about inflation and is open to further interest rate hikes.
Chinese government data in recent weeks has revealed deflation, declining trade, and a precarious housing sector. On Thursday, China Evergrande, The most indebted developer in the worldfiled for Chapter 15 bankruptcy protection.
This is where US indices stood as the market closed at 4:00 PM on Friday:
Here’s what else happens:
In commodities, bonds and cryptocurrencies:
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