U.S. stocks fell in afternoon trading, with technology shares bearing the brunt of the selling in a market rattled by a barrage of trade-related headlines. The dollar rose.

The S&P 500 headed for a second weekly decline amid speculation U.S.-Chinese trade negotiations reached an impasse after tit-for-tat tariffs soured proceedings. Friday’s slump halted a three-day rally sparked by optimism the two sides would eventually reach a deal. Tech shares slid, with chipmakers under pressure a second day after the Trump administration threatened to ban Huawei Technologies Co. products.

Ten-year Treasury yields fell to 2.38 per cent, while the dollar rose to around year highs. Oil fell toward US$62 a barrel.

The late-day sell-off underscored the fragile mood on financial markets roiled by two weeks of concern that escalating trade war will undermine global growth. President Donald Trump took steps toward calming nerves by postponing any tariffs on Japanese and European cars, while agreeing to end levies on Canadian steel and aluminum imports. But the status of talks with China remained unclear as investors headed into the weekend.

“What’s happening in markets is there’s this push and pull idea of what’s happening with the trade war with China. That’s obviously what’s on everyone’s minds,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance. “For the most part, people are betting that an agreement will be made.”

Meanwhile, iron ore rose to the highest level in almost five years. The pound weakened as U.K. Prime Minister Theresa May agreed to set a timeline to quit and Labour leader Jeremy Corbyn walked out of cross-party Brexit talks. MSCI’s gauge of emerging-market stocks fell to its lowest since January. Bitcoin slumped as much as 14 per cent, before paring losses as this month’s surge for cryptocurrencies was tested.

Here are the main market moves:

Stocks

The S&P 500 Index fell 0.5 per cent as of 3:28 p.m. New York time. The Dow Jones Industrial Average fell 0.4 per cent. The Stoxx Europe 600 Index dipped 0.4 per cent. The U.K.’s FTSE 100 Index fell 0.1 per cent.

Currencies

The Bloomberg Dollar Spot Index climbed 0.3 per cent to the highest in more than 21 weeks. The euro fell 0.1 per cent to US$1.1165. The British pound dipped 0.5 per cent to US$1.2734. The Japanese yen fell 0.1 per cent to 109.95 per dollar.

Bonds

The yield on 10-year Treasuries fell one basis point to 2.38 per cent. Germany’s 10-year yield decreased one basis point to -0.1 per cent. Britain’s 10-year yield declined four basis points to 1.034 per cent.

Commodities

West Texas Intermediate crude dropped 0.2 per cent to US$62.71 a barrel. Gold fell 0.7 per cent to US$1,277.30 an ounce.