Tech Shares Sank on Friday. The 10-Year Yield Fell Too.

U.S. stocks fell sharply on Friday, October 30. CNBC reported the Nasdaq Composite down 2.86%, to 25,437.00, its worst day since June. The S&P 500 fell 1.82%, to 7,580.07, and the Dow fell 572.25 points, or 1.09%, to 51,770.31. Losses were heaviest in chips and shares tied to artificial intelligence. Intel fell almost 29% after weak guidance, and Nvidia fell 4%. For October, the Nasdaq lost 5.3% while the Dow gained 1.7%. The same day's Treasury report showed the 10-year yield down about 6 basis points, to 4.929%, not higher. A lower stock index does not change a fixed loan payment, and Friday's yield move did not show new borrowing costs rising with the selloff.

Did Friday's stock drop raise the rate on a loan you already have? No change to an existing loan was announced. The 10-year yield, a benchmark for new borrowing, fell to about 4.929% in CNBC's Friday report.