Stock futures dipped Friday morning as traders focused on a recent run higher in the 10-year Treasury yield. Futures tied to the Dow Jones Industrial Average were down 75 points, or 0.2%. S&P 500 futures fell 0.2%, while Nasdaq 100 futures dropped about 0.3%. Shares of SolarEdge tumbled more than 28% after the company trimmed its third-quarter revenue guidance. Knight-Swift Transportation rallied more than 15% after beating estimates in the third quarter on both lines. The action follows a volatile day for stocks. The 30-stock Dow shed 250.91 points, or 0.75%, while the S&P 500 lost 0.85%. The Nasdaq Composite slid nearly 1%. Stocks were rattled Thursday after Federal Reserve Chair Jerome Powell said inflation remains too high and lower economic growth will likely be needed to bring it down. Powell also said he doesn’t think rates are too high now. “While the path is likely to be bumpy and take some time, my colleagues and I are united in our commitment to bringing inflation down sustainably to 2 percent,” he added. Though Powell did not commit to a path forward for rates at his speaking engagement, the market seems to think the central bank will skip a hike in November. Fed fund futures pricing reflects a nearly 99% likelihood that the central bank will keep rates the same at the conclusion of its November meeting, according to the CME FedWatch Tool. The major averages are on pace for losses on the week. The S&P 500 is down 1.2% through Thursday’s close, while the Nasdaq is off 1.7%. The Dow is down nearly 0.8%. U.S. Treasury yields ticked lower Friday after rising to multiyear highs as investors digested comments by Federal Reserve Chairman Jerome Powell. The yield on the 10-year Treasury fell to 4.939% by 5:25 a.m. ET, down around 5 basis points. The 2-year Treasury yield was trading around 5.155%, down around 2 basis points. On Thursday, the 10-year Treasury yield topped 5% for the first time since July 20, 2007. Asia-Pacific markets were all lower Friday, extending losses from Thursday’s broad sell-off. This comes as U.S. Federal Reserve Chair Jerome Powell said inflation was still too high and would likely require lower economic growth. The benchmark U.S. 10-year Treasury yield also crossed 5% for the first time in 16 years Thursday evening. While he noted that recent data showed progress toward slowing prices, Powell also added that monetary policy was not yet too tight. Asia investors will also assess Japan’s September inflation data, which came in at 3%, the 18th straight month above the BOJ’s 2% target, as well as China’s one-year and five-year loan prime rates. In Australia, the S&P/ASX 200 closed 1.16% at 6,900.70. Japan’s Nikkei 225 closed 0.54% lower at 31,259.36, while the Topix ended 0.38% down at 2,255.65. Both indexes fell after data showed Japan’s headline inflation rate slowed in September. South Korea’s Kospi dropped 1.69% to 2,375 at its close, while the Kosdaq was 1.89% lower at 769.25. Hong Kong’s Hang Seng index shed 0.73% in its final hour, while China’s benchmark CSI 300 index slipped 0.65% to end the day at 3,510.59, near its one year low of 3,508.7. China’s central bank kept its benchmark loan rates unchanged for October. Oil prices extended gains on Friday and were on track to rise for a second week on heightened fears that the Israel-Gaza crisis may spread in the Middle East and disrupt supply from one of the world’s top-producing regions. Brent crude futures was up 78 cents to $93.16 a barrel. U.S. West Texas Intermediate crude was at $90.26 a barrel, up 89 cents. The front-month November contract expires on Friday. Both front-month contracts are set to record a second weekly gain as an explosion at a Gaza hospital this week and an anticipated ground invasion by Israeli troops heightened fears of the conflict spreading in the Middle East. Gold climbed to a three-month peak on Friday, en route to a second straight weekly rise, as fears of a further escalation in the Middle East conflict bolstered safe-haven demand. Spot gold was up 0.1% at $1,976.10 per ounce, after hitting its highest since July 20. U.S. gold futures added 0.4% to $1,988.50.