Stocks wobble following mixed jobs data as tech sinks again

Stocks turned mixed Friday as Treasury yields rise, with much of Wall Street seeing the Federal Reserve on course to raise interest rates as soon as March despite a mixed report on the U.S. jobs market.

The S&P 500 was 0.2% lower in afternoon trading, and the yield on the 10-year Treasury was at its highest level since COVID-19 began pummeling markets at the start of 2020.

If the Fed does raise interest rates, it could help corral the high inflation sweeping the world.

But it would also mark an end to the conditions that have put financial markets in “easy mode” for many investors.