Stock futures slipped Friday after the major averages dropped for a third straight day. Dow Jones Industrial Average futures were down by 131 points, or 0.3%. S&P 500 futures dipped 0.5%, and Nasdaq-100 futures fell 0.8%. The Dow is on pace for its worst week since March, lower by 2.29% through Thursday. Meanwhile, the S&P 500 is headed for a third straight week of losses, a streak that hasn’t happened since February. The Nasdaq Composite is also set for a third consecutive losing week for the first time since December. Meanwhile, the Dow Transports and Russell 2000 are each on pace for their worst weeks since March. Earnings season continued. Applied Materials shares added nearly 3% in extended trading after the semiconductor equipment maker beat analysts’ expectations on the top and bottom lines. Ross Stores also popped about 5% after topping second-quarter forecasts. Palo Alto Networks will report Friday after the close. On Thursday, the Dow closed below the 50-day moving average for the first time since June 1 — which is a bearish signal for investors. The 30-stock index tumbled 290.91 points, or 0.84%. Meanwhile, the S&P 500 declined 0.77%, and the Nasdaq Composite slid 1.17%. The 10-year U.S. Treasury yield on Thursday rose to its highest level since October 2022. The move came after the July meeting minutes from the Federal Reserve suggested further interest rate hikes could be ahead as central bank policymakers remain concerned about inflation. “Rates are not going higher for the right reasons in my opinion,” Private Advisor Group’s Guy Adami told CNBC’s “Fast Money.” “This is now a confluence of events going on globally. We’re at levels we haven’t seen in quite some time.” “If yields continue to move like they’re moving, there’s going to be some ramifications for global equity markets,” he added. Asia-Pacific markets fell on Friday as investors assessed Japan’s July inflation data and fresh blows to China’s real estate sector. Japan’s core inflation rate fell to 3.1%, down from 3.3% in June. Headline inflation remained at 3.3%. Meanwhile, embattled Chinese real estate giant Evergrande has filed for bankruptcy protection in a U.S bankruptcy court. Hong Kong’s Hang Seng index slid 1.97% in its final hour of trade, while the mainland CSI 300 index lost 1.23% to close at 3,784. Japan’s Nikkei 225 slipped 0.55% to cap off four days of losses in the past five sessions, ending at 31,450.76 while the Topix closed down 0.7% at 2,237.29 after the inflation reading was released. In Australia, the S&P/ASX 200 inched up marginally and ended at 7,148.1. South Korea’s Kospi finished 0.61% lower at 2,504.5, marking a sixth straight day of losses, and the Kosdaq lost 0.98% to close at 877.32. Oil prices looked set to close down this week following seven weeks of gains, as China’s economic woes eclipse signs of tight supply. The seven-week upswing in prices, galvanized by supply cuts by the Organization of the Petroleum Exporting Countries and allies (OPEC+), was the longest streak for both benchmarks this year. Brent futures rose by about 18% and West Texas Intermediate crude (WTI) by more than 20% in the seven weeks ended Aug. 11, with prices hitting their highest levels in months. The benchmarks pared some gains this week, slipping more than 3%. Prices were little changed on Friday. Brent crude slipped 21 cents to $83.91 a barrel as of 1033 GMT, while WTI edged 9 cents lower to $80.3 a barrel. Gold gained on Friday as the dollar and bond yields eased but remained on course for a third straight weekly dip as strong U.S. economic data reinforced bets that the Federal Reserve will keep interest rates elevated. Spot gold rose 0.3% to $1,894.41 per ounce by 1042 GMT, after touching its lowest in five months on Thursday. U.S. gold futures rose 0.3% to $1,920.80. The dollar was down 0.2%, making gold cheaper for holders of other currencies.