Tech stocks pulls market lower as bond yields climb again

Tech stocks pulls market lower as bond yields climb again

Stocks were mostly lower in early trading Friday as technology stocks, which had spent most of the week holding steady or climbing, fell broadly. The move was once again caused by a rise in bond yields.

The S&P 500 index was down 0.3% as of 10:50 a.m. Eastern. The Dow Jones Industrial Average was up 0.6%, lifted by bank stocks like JPMorgan Chase and Goldman Sachs. The technology-heavy Nasdaq was down 1.4%.

Even with the modest losses, all three indexes are on pace end the week up 2% or more.

It was the usual cast of characters in…

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