Stocks Dip After Bond Yields Spike & Following Fed Chair Remarks
Stocks dipped Friday morning after the yield on the benchmark 10-year Treasury crossed 5% for the first time in 16 years and also following Fed Chair Jerome Powell's remarks on Thursday.
Thousands of Los Angeles city employees, including sanitation workers, lifeguards and traffic officers, walked off the job Tuesday for a 24-hour strike alleging unfair labor practices.