Wall Street racks up more losses to close out worst week in a month.
For the second time in as many days, Adtran sported a gain as seemingly everyone else on our Huntsville and Alabama Stock Report saw declines.
The Huntsville-based telecommunications equipment company picked up 2.1% on Friday, or 15 cents. It was one of four stocks that saw gains. Birmingham-based Regions saw the biggest drop at -12.4% to plunge to $14.44, two quarters away from a 52-week low.The S&P 500 fell 1.3% for a fourth straight drop. The Dow Jones Industrial Average sank 286 points, or 0.9%, and the Nasdaq composite tumbled 1.5%.
The stock market has been struggling under the weight of the bond market, where the yield on the 10-year Treasury briefly topped 5% late Thursday for the first time since 2007, according to Tradeweb. High yields make borrowing more expensive for everyone, and they slow the economy while dragging on prices for stocks and other investments.
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