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U.S. equities slid for a third straight week in a choppy run of trading driven by hotter-than-expected economic figures and concerns the Federal Reserve will stay aggressive.
The S&P 500 index dipped 0.2 percent to 3,845 in the week. The Nasdaq fell 1.9 percent in the five-day period while the Dow Jones industrial average rose 0.9 percent.
A spate of economic reports whipsawed markets as traders tried to parse data and guess the Fed’s next move. The week began with a shocking decision by the Bank of Japan to allow long-term yields to rise more. Considered the last holdout to rock-bottom interest rates, the Japanese central bank’s move caused the U.S. benchmark 10-year yield to jump the most since October.
Then, U.S. gross domestic product for the third quarter was revised upward to 3.2 percent from an annualized rate of 2.9 percent, underscoring strength in consumer spending and business investment….
