NEW YORK>> Wall Street racked up more losses Friday to close out its worst week in a month.

The S&P 500 fell 1.3% for a fourth straight drop. The Dow Jones Industrial Average sank 286 points, or 0.9%, and the Nasdaq composite tumbled 1.5%.

The stock market has been struggling under the weight of the bond market, where the yield on the 10-year Treasury briefly topped 5% late Thursday for the first time since 2007, according to Tradeweb. High yields make borrowing more expensive for everyone, and they slow the economy while dragging on prices for stocks and other investments.

The yield on the 10-year Treasury was hanging within a hair of 5% early Friday morning, before later easing back to 4.91%. It’s been generally catching up to the Federal Reserve’s main interest rate, which is already above 5.25% and at its highest level since 2001.

Yields swung a day earlier after investors took comments from Federal Reserve Chairman Jerome Powell to indicate the central bank won’t raise its main interest rate at its next meeting Nov. 1. But financial markets are less sure about what the Fed will do after that, and the central bank has said its upcoming moves will depend entirely on how inflation and the job market behave.

The Fed has raised its overnight interest rate at a furious pace in hopes of suffocating high inflation. But a rise in oil prices is threatening to add more upward pressure. Crude prices remained volatile amid worries about war in the Middle East.

A barrel of benchmark U.S. oil fell 62 cents to settle at $88.75. It’s been bouncing around since the latest Hamas-Israel war began, after leaping from $70 to more than $93 during the summer. Brent crude, the international standard, slipped 22 cents to $92.16 per barrel.

Gold rose $13.90 to settle at $1,994.40 per ounce. Last week, it jumped more than 3% heading into the weekend.

Investors are pulling so many dollars out of riskier investments, such as junk bonds and global stock funds, and holding so much cash to protect themselves that a market-sentiment reading by Bank of America is signaling “extreme bearish.” Such a reading has been a signal for contrarians to buy, with stock prices typically improving in the ensuing three months, strategist Michael Hartnett wrote in a BofA Global Research report.

But he also noted it hasn’t been a reliable signal when very big shocks occur, such as the period around Lehman Brothers’ collapse in 2008 or the Russia-Ukraine war last year. Maybe a jump for oil prices above $100 or the 10-year Treasury yield shooting above 5% could act as similar very big shocks this time around.