Stocks Suffer Third Weekly Loss on Rate-Hike Woes: Markets Wrap
- Global bonds fall 20% from 2021 peak to enter a bear market
- US Treasuries rallied on Friday, led by short maturities
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US stocks suffered a third weekly loss after jobs data did little to alter views on the Federal Reserve’s next policy move.
The S&P 500 contended with its longest weekly losing streak since mid-June, as the central bank’s hawkish chorus grew louder in recent days. The index also ended Friday lower, erasing the gains it notched earlier in the session after the jobs report showed some signs of easing in a still-tight American labor market. A delay in the opening of a key gas pipeline to Europe bruised sentiment in the afternoon, ahead of a three-day weekend for American markets.