Top Movers of the day

The S&P 500 and Nasdaq Composite indexes fell for a third consecutive day on Friday, marking their second consecutive weekly declines. This was primarily due to continued pressure on technology shares and stronger-than-expected inflation readings earlier in the week, which dampened hopes for Federal Reserve interest rate cuts. February's Consumer Price Index (CPI) and Producer Price Index (PPI) reports weighed on sentiment, with investors anticipating next week's Federal Open Market Committee (FOMC) meeting. The Fed is expected to keep its benchmark rate unchanged, and recent inflation data is likely to make central bank leaders hesitant to cut rates anytime soon.

In the technology sector, Adobe's stock tumbled 14% after the company released softer-than-expected guidance for the current quarter. Salesforce and Amazon also saw declines, contributing to the Dow Jones Industrial Average's drop.

Concerns about inflation and expectations that the Fed will maintain higher interest rates for a longer period pushed Treasury yields up this week, further pressuring stocks. The yield on the 10-year Treasury note rose for the fourth consecutive day, reaching a two-week high of around 4.32%.

The S&P 500 index ended the week down 0.1%, the Dow Jones Industrial Average was down 0.02%, and the Nasdaq Composite fell 0.7%. The 10-year Treasury note yield rose slightly to 4.308%, and the Cboe Volatility Index (VIX) remained relatively stable. The Nasdaq-100, which includes the Nasdaq's biggest non-financial companies, dropped 1.2% to its lowest level in over three weeks. The small-cap-focused Russell 2000 Index ended the week with a 2.1% loss, breaking a two-week winning streak. Energy companies saw gains, with the Philadelphia Oil Services Index rising almost 5% for the week to its highest level since early November. The U.S. dollar strengthened, with the U.S. dollar index posting a 0.7% gain for the week, as expectations grew that the Fed will keep interest rates high.