On Wednesday, the yield on ten-year government bonds rose at times to 5.03 percent, the highest level since 2007. On Thursday, it fell slightly, which lifted Wall Street, but on Friday, at the close of trading, it was just over 5 percent.
At the same time, the price of oil fell slightly. At the close, a barrel of North Sea oil cost just over $103.
The stock market reaction was mixed. The S&P 500 index and the tech-heavy Nasdaq composite index rose 0.2 and 0.4 percent, respectively. The Dow Jones industrial average fell 0.2 percent.
According to CNBC, it is the Dow Jones' biggest weekly decline since March.
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