Market Recap | U.S. stocks close lower after jobs report
Markets are off to a rough start in 2022. The $S&P 500 index(.SPX.US)$ ended the week with a loss of 1.9%, while the $Dow Jones Industrial Average(.DJI.US)$ has lost 0.3%. The tech-heavy $Nasdaq Composite Index(.IXIC.US)$ fell 4.5%, its worst week since February. And the turbulence hasn't been limited to the stock market: The yield on the 10-year Treasury note jumped for five consecutive sessions to its highest level since January 2020, before the pandemic started spreading aggressively through the U.S. The week has been marked by big swings across stock and bond markets as investors have fled some of the most popular trades of the past year and parsed signals from the Federal Reserve on the path of rate hikes. As bond prices have fallen and Treasury yields have jumped, investors have ditched shares of technology and growth companies, particularly some of the most speculative bets in those sectors. The S&P 500 kicked off the new year with a fresh record on Monday bu