Stocks declined on Friday. The Dow Jones Industrial Average shed 285 points, falling for the first time in six sessions. The S&P 500 fell 1.2%, and the Nasdaq Composite slid 1.98%. Tesla dropped 5% while Nvidia sank 3.2%; Amazon, Microsoft, Alphabet declined more than 2%.

A sell-off in bonds continued on Friday, putting pressure on equities and sending U.S. Treasury yields higher. The benchmark 10-year yield ( US10Y ) hovered near a seven-month-high, up 2 basis points to 4.60%, while the shorter-end 2-year yield ( US2Y ) was up nearly 1 basis point to 4.34%.

U.S. stocks began the holiday-shortened week on a positive note, with the benchmark S&P 500 ( SP500 ) posting its first +1% gain on Christmas Eve since 1974.

But since returning from the Christmas holiday, momentum has stalled. Still, it has been a banner year for equities, with the S&P ( SP500 ) up a hefty +26.58% YTD.

"We are about to have more years, since 1950, that saw stocks gain 20% ( 22 ) than had a negative year ( 21 ) . Impress your friends at the New Year's Eve party with that stat," Ryan Detrick, chief market strategist at Carson Group, said on X ( formerly Twitter ) .

Turning to Friday's economic calendar, market participants received a few indicators at 0830 ET. Wholesale inventories unexpectedly declined in November, but retail inventories edged up. Meanwhile, the international trade deficit widened slightly more than anticipated for the same month.