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- US stocks dropped Friday as the 10-year Treasury yield pulled back but remained close to 5%.
- Cleveland Fed President said the central bank is close to the end of its rate-hiking cycle.
- Markets continued to monitor rising geopolitical tension in the Middle East, with Brent trading above $92.
US stocks dropped to end the week, with the Nasdaq losing more than 1.5% in Friday's trading session as the 10-year Treasury yield edged lower but remained close to the highest levels since 2007.
The Dow Jones Industrial Average lost nearly 300 points, while the S&P 500 dropped more than 1%.