The tech-heavy Nasdaq fell 0.6 percent after rebounding more than six percent over the past three sessions as the rising bond yields revived inflation worries and dulled the appeal of high-growth technology shares. The S&P 500 and Nasdaq posted their biggest weekly percentage gains since early February after President Joe Biden signed 1.9 trillion dollar fiscal stimulus bills on Thursday.

On the other hand, the recent rise in U.S. Treasury yields has raised fears of a sudden tapering of monetary stimulus and put downward pressure on Wall Street in recent weeks. The yield on the benchmark 10-year note hit 1.642% on yesterday, the highest level since February of last year.

However, after signing of the stimulus bills, the Dow Jones Industrial Average climbed 0.9 percent and the S&P 500 added marginally by 0.1 percent.