Stocks edge lower, Treasury yields soar after jobs data

By STAN CHOE
AP Business Writer

NEW YORK (AP) — Stocks edged lower on Wall Street Friday while Treasury yields soared, after a healthy report on the U.S. job market strengthened expectations for coming interest rate hikes. The S&P 500 slipped 0.3% in afternoon trading, after flitting between small gains and losses earlier. The index is on track for a weekly loss following two weeks of gains. The two-year Treasury yield approached its highest level in more than three years after a report showed the labor market remained strong in February. It again topped the 10-year yield, an unusual even that’s historically been an ominous sign for the economy.