LONDON - Global stocks saw a mixed day of trading Friday as investors contemplated the prospect that interest rates could remain higher for longer and on concerns over China's economy.
Stocks on Wall Street finished largely flat as investors snapped up more attractive government bonds with higher yields.
The Dow Jones Industrial Average finished up slightly, while the S&P was flat and the Nasdaq fell.
Meanwhile, the yield on the 10-year US Treasury note eased off highs seen earlier this week, when it was briefly flirting with a new 15-year high.
"There are a lot of investors looking at the yields and they are starting to get very attractive," financial advisor Tom Cahill from Ventura Wealth Management told AFP.
"They are stepping in to do some buying of the bonds and of course that drives down yields -- and that's better for stocks," he added.
In the eurozone, Paris and Frankfurt ended the week in the red.
In London, the FTSE 100 also closed lower, as a wet July dampened UK retail sales, which fell more than expected last month, official data showed.
Traders have been spooked after minutes from the US central bank's July meeting hinted that further increases in borrowing costs could lie ahead, as policymakers grapple with inflation.