NEW YORK — U.S. stocks declined Friday, handing the Dow Jones industrial average its worst week this year, with investors on uncertain footing as longer-term Treasury yields rose to two-year highs.
The Dow on Friday slid 30.72 points, or 0.2 percent, to finish at 15,081.47, while the S&P 500 index fell 5.49 points, or 0.3 percent, to close at 1,655.83. Nasdaq shed 3.34 points, or 0.1 percent, to end at 3,602.78.
All three main stock indexes lost ground for the second week in a row.
For the week, the Dow lost 344 points, or 2.2 percent, suffering its biggest weekly percentage drop and point loss of 2013. It was the blue-chip index’s worst weekly percentage slide since May 2012, and its largest point decline since June 2012.
The S&P 500 slumped nearly 36 points, or 2.10 percent, for the week, suffering its biggest weekly point drop of the year, but not its biggest percentage decline. The tech-heavy Nasdaq was down just 1.6 percent for the week, as Apple’s 10.5 percent weekly gain provided a boost.
“Stocks are taking their lead from the bond market. Higher yields are not good news for stocks, but if higher yields come because the economy is getting stronger, (the latter would be positive for equities),” said Kate Warne of Edward Jones.
While stock indexes traded in a limited range on Friday, longer-term Treasury yields resumed their rapid climb, with the 10-year rising 5 basis points to 2.83 percent.
Oil prices rose slightly, finishing 1.4 percent higher for the week.
