Wall Street racks up more losses to close out worst week in a month.
For the third time in as many days, Regions lost ground to highlight Friday’s Birmingham and Alabama Stock Report.
The Birmingham-based bank plummeted 12.4% on Friday, falling to $14.44, two quarters away from a 52-week low. Birmingham-based Medical Properties Trust led the gainers with a rise of 1.3%. It was one of just five stocks that saw gains.The S&P 500 fell 1.3% for a fourth straight drop. The Dow Jones Industrial Average sank 286 points, or 0.9%, and the Nasdaq composite tumbled 1.5%.
The stock market has been struggling under the weight of the bond market, where the yield on the 10-year Treasury briefly topped 5% late Thursday for the first time since 2007, according to Tradeweb. High yields make borrowing more expensive for everyone, and they slow the economy while dragging on prices for stocks and other investments.
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