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U.S. stocks slid Friday morning as fears of aggressive Federal Reserve policy had equity markets pace towards a big weekly loss and Treasury yields continue a perilous climb to fresh highs.
The benchmark S&P 500 tumbled 1.2% early into the session. The Dow Jones Industrial Average plunged more than 300 points, or 1.1%, falling below the 30,000 level for the first time since June. The technology-heavy Nasdaq Composite off by 1.2%.
Meanwhile, the 10-year U.S. Treasury note spiked above 3.7%, hitting the highest level since 2010. The U.S. dollar index reached a fresh two-decade high. And in commodity markets, crude oil fell, with West Texas Intermediate (WTI) futures plunging 4.4% to $79.85 per barrel and Brent crude oil down 3.7% at $87.05 per…