XXXXX | Closing Bell

Summary

The anchors recap a down week for major indices, with chip stocks like Applied Materials and Qualcomm seeing sharp late-day declines. They discuss supply bottleneck worries, potential demand destruction, and the 10-year Treasury rally extending to a third week. Sector performance was mixed, with healthcare and consumer discretionary higher, while tech dragged on the S&P 500.

• S&P 500 posted its fifth straight daily decline, down about 2% on the week.
• Nasdaq 100 fell roughly 1% on the day and 4% on the week.
• Applied Materials and Qualcomm had large late-day spikes down with no news.
• Micron reported blockbuster numbers earlier in the week.
• Apple raised prices, fueling fears about demand destruction from supply bottlenecks.
• Six S&P 500 sectors finished higher, led by healthcare (Eli Lilly); tech was the biggest drag.
• 10-year Treasury yield fell for a third straight week; 30-year yield barely higher on the day.