- Megacap tech stocks fell for the third week in a row, the longest such streak since 2023, as concerns about rising global interest rates weighed on sentiment, while bonds recovered from multiyear lows.- Stocks rose in the final minutes of the session, likely aided by Friday's massive options expiration. The S&P 500 and Dow Jones Industrial Average finished the session unchanged. The Nasdaq 100 fell during the session, while MSCI's global equity index suffered its biggest weekly loss since the March meltdown of Silicon Valley Bank.
- While fears of an impending recession are fading, investors should be concerned about entrenched inflation and the prospect of further policy tightening. As a result, risk assets such as Bitcoin fell as much as 8%, and oil was on track for its first weekly loss since June.
- Bond markets rose Friday on speculation that losses had been overstated. In Treasuries, the 10-year yield fell from Thursday's levels, which were near the highest since 2007. Bonds from the United Kingdom and Germany advanced.
