U.S. stocks opened lower and a selloff in government bonds stabilized Friday, after the latest sign that the Federal Reserve will tighten monetary policy aggressively to fight inflation.
The S&P 500 fell 0.8% after the opening bell, while the technology-heavy Nasdaq Composite declined 0.3%. The Dow Jones Industrial Average dropped 393 points, or 1.1%. On Thursday, major U.S. stock indexes finished with losses. All three indexes were recently on course to finish the week in the red.