Stocks Continue Losses as Rising Rates Add to Wall Street's Worst Month in Years

Wall Street closed out its worst week in a month with more losses on Friday. The S&P 500 fell 1.3% for a fourth straight drop.

The 10-year Treasury yield briefly topped 5% Thursday for the first time since 2007. High yields slow the economy and hurt stock prices.

Oil prices remained volatile amid worries about the war in the Middle East. Crude fell slightly Friday but jumped from $70 to over $93 per barrel this summer.

Investors are pulling money out of riskier assets like junk bonds and stocks and holding cash, signaling “extreme bearish” sentiment that's historically signaled a rebound.

Solar company SolarEdge plunged 27% after slashing its profit forecast, dragging down other solar stocks. Bank stocks were also hit, while trucking company Knight-Swift jumped 12% on strong earnings.