Stocks extend losses following Fed Chair Powell’s speech, U.S. dollar climbs

Yahoo Finance's Ines Ferre breaks down Friday's market action, with stocks closing at the lows of the session and the U.S. dollar rising.

Video transcript

- Well, less than two minutes away from the closing bell. So let's bring in Yahoo Finance's, Ines Ferre to break down this market action on Fed day.

INES FERRE: Yeah, Rochelle. And it looks like we are going to close at the lows of the session. We've got the Dow rate now that's down 976 points, check it out. We're also looking at the NASDAQ composite that's down 484 points 3.8% and the S&P 500 down more than 3% as well. I'm going to pull up a five-day chart, because we are going to end the week in the red and a lot of those losses happening today.

Taking a look also at where we're at with Treasury yields, we are checking out the 10-year Treasury that's up one basis point at 3.4% also looking at the US dollar index. That is higher as well today, as equities are lower. Let's take a look at the sector action. We have seen most of the losses, a lot of the losses happening in technology, communication services, consumer discretionary-- excuse me-- and industrials. These are the leading to the downside sectors, But all the sectors being in the red right now. Even energy down more than 1%.

Also looking at the Dow, all components, all 30 components of the Dow being in the red, some of these heavily in the red. And over on the NASDAQ, 100. You can see the deep red, and, on the left-hand side of the screen, the mega caps, Microsoft down more than 3 and 1/2 Alphabet down 5%