The yield has risen 73.6 basis points over the past seven weeks, according to Dow Jones Market Data. On Friday, traders were considering whether the U.S. is moving into a period of higher-for-even-longer interest rates, fueled by continued economic strength and potential inflationary pressures.

Stocks finished lower on Thursday, with another afternoon selloff tied to a jump in Treasury bond yields, this time linked to hawkish comments from Fed Chair Jerome Powell. Speaki

European equities and US futures fell after Jerome Powell indicated the Federal Reserve was in no rush to cut interest rates.Most Read from BloombergUnder Trump, Prepare for New US Transportation PrioritiesZimbabwe City of 700,

Indexes slipped as traders zeroed in on remarks from Fed Chair Jerome Powell, who said the central bank is in no hurry to cut rates amid a strong economy.