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.

Indexes slipped as traders zeroed in on remarks from Fed Chair Jerome Powell, who said the central bank is in no hurry to cut rates amid a strong economy.

U.S. stock index futures fell on Friday after Federal Reserve Chair Jerome Powell said there was no need to reduce interest rates in a hurry, pushing up bond

Federal Reserve Chair Jerome Powell announced on Thursday that the U.S. central bank does not feel pressured to hastily reduce interest rates, given the countrys solid economic growth, a resilient job market,

U.S. stocks dipped as Wall Street's post-election surge cools. The S&P 500 fell 0.6%, with Cisco and Tesla among the decliners. Meanwhile, Disney and Tapestry reported gains amid mixed global markets.