Despite the recent climb in rates, many analysts expect the stock market to be able to absorb the rise as long as economic data remain supportive and the pace of the increase is modest. It measures the daily stock price movements of 30 large, publicly-owned USA companies.
But the yield on the 10-year US Treasury bond, seen as a proxy for interest rates, pulled back Friday.
Stocks initially rose after the Fed released minutes of last month's policy meeting yesterday, but tumbled into negative territory by the end of the session as the yield on the 10-year US Treasury jumped. They finished the week with gains of 0.4 percent and 0.6 percent, respectively.
But the financial sector as a whole gave up an early advance to trade 0.1 percent lower, with Bank of Nova Scotia down 0.5 percent at C$77.60 a share.
Meanwhile, Roku's stock shed 21 percent after the streaming company issued weaker-than-expected revenue guidance for the current quarter.
Trump Defends His Argument That Arming Teachers May Prevent Shootings
Trump offered some solutions, calling for more mental institutions and hospitals in addition to the idea of arming teachers. The students and their parents appealed to him to press for stricter gun controls . "He spoke about background checks".
The Nasdaq composite fell 8.14 points, or 0.1 percent, to 7,210.09.
The Russell 2000 is down 13.56 points, or 0.9 percent.
After inflation worries knocked the S&P 500 down more than 10 percent from its January 26 high, stocks had rebounded in recent sessions as yields on the 10-year US Treasury note had stabilized around the 2.9 percent mark.
The S&P 500 is down 28.26 points, or 1 percent.
The Russell 2000 is down 5.52 points, or 0.4 percent.