All 11 S&P 500 sectors trade in negative territory in the last hour of trade, as bond yields pop

The S&P 500's sectors were all trading in the red late Friday, with less than a half-hour remaining in trade as government bond yields jumped. Losses for the S&P 500's 11 sectors were led by steep declines in consumer categories, with consumer staples stocks off 1.9% and those for consumer-discretionary down 1.3%. Technology shares also were facing heavy pressure, falling 1.7%, led by a sharp decline in Apple Inc. shares Most recently, the S&P 500 was trading 1.1% lower at 2,664, the Dow Jones Industrial Average was giving up 1% at 24,409, while the Nasdaq Composite Index retreated by 1.5% at 7,134. Selling accelerated late Friday as bond yields for the benchmark 10-year Treasury note [: TMUBMUSD10Y] popped, hitting 2.96%, marking its highest yield level since around 2014, according to FactSet data.