Stocks fell on Friday, with the Dow posting its worst weekly loss since October, as traders worried the Federal Reserve could start raising rates sooner than expected.

The S&P 500 slid 1.3% to 4,166.45. The S&P 500 hit its session low in the final minutes of trading and closed around those levels. 

Pockets of the market most sensitive to the economic rebound led the sell-off this week. The S&P 500 energy sector and industrials dropped 5.2% and 3.8%, respectively, for the week. Financials and materials meanwhile, lost more than 6% each. These groups had been market leaders this year on the back of the economic reopening.

The decline in stocks came as the Fed’s actions caused a drastic flattening of the so-called Treasury yield curve. This means the yields of shorter-duration Treasurys — like the 2-year note — rose while longer-duration yields like the benchmark 10-year declined. The retreat in long-dated bond yields reflects less optimism toward economic growth, while the jump in short-end yields shows the expectations of the Fed raising rates.

E-Mini Nasdaq

Stock futures declined early Monday morning after the Dow posted its worst week since October.

The Nasdaq Composite closed 0.9% lower at 14,030.38. Economic comeback plays led the market losses.

U.S. stocks fell on Friday as investors digested new economic projections from the Federal Reserve and worried rate hikes could come sooner than expected.

Investors await public appearances from Fed members on Monday. Bullard and Dallas Fed President Robert Kaplan are set to speak virtually on a Official Monetary and Financial Institutions Forum panel at 9:00 a.m. ET. New York Fed President John Williams is expected to deliver remarks at a Midsize Bank Coalition of America event Monday afternoon.

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Plan A : Attempt sell if oil price trades below 71.1. Targets are 70.4 and 69.5

Plan B : Consider long if oil price trades resiliently above 71.1 and rebound. Targets are 71.9 and 72.8

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