United States equities last week were rattled by a sharp upward movement in US bond yields that many market watchers fear is a sign of inflationary pressure which could prompt the Federal Reserve to reverse its market-supportive, low interest rate policy.

The blue-chip Dow Jones index ended a volatile week at 30,932.37 points on Friday, down 561.95 points for the week, while the broader S&P index gave up 95.56 points to end the week at 3,811.15. The tech-heavy Nasdaq lost 682 points for the week to end at 13,192.34 as “big tech” came under selling pressure on valuation concerns.

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