The yield has risen 73.6 basis points over the past seven weeks, according to Dow Jones Market Data. On Friday, traders were considering whether the U.S. is moving into a period of higher-for-even-longer interest rates, fueled by continued economic strength and potential inflationary pressures.

The odds of a 25-basis-point rate cut fell to less than 60% shortly after Powell's comments, down from 80%, as calculated by the CME FedWatch Tool. The probability remained lower, around 58%, on Friday morning.

WASHINGTON - US stocks fell on Nov 14, as traders digested an uptick in inflation and comments from Fed chairman Jerome Powell, which had the effect of cooling expectations of a December rate cut. Consumer and producer inflation data published this week point to a small rise in the rate of price increases,

Stocks turned lower in afternoon trading, and that pressure continued through Friday. The S&P 500 fell as much as 1.6%, and has now given back more than half of its torrid 4% post-election gain. The Nasdaq Composite dropped 2.7% at intraday lows.

On Thursday, president-elect Donald Trump made two unrelated announcements that moved two disparate corners of the stock market. First, Trump said he plans to nominate Robert F. K

The U.S. dollar strengthened against major peers on Thursday, trading at a one-year high and headed for a fifth straight session of gains, propelled by market expectations since Donald Trump clinched a dramatic return to the White House.