Stocks fell for a second straight session on Friday, with the tech-heavy Nasdaq leading the decline by more than 1%. Jim Cramer said higher bond yields were pressuring the market after hotter-than-expected inflation and producer-price data. Markets now favor a 25-basis-point Federal Reserve rate hike in January, and possibly in March. Nvidia dropped 3% after CEO Jensen Huang resigned amid an affair scandal, bringing its weekly decline to more than 13.5%. Cramer also described AMD’s decline as a buying opportunity, while trimming TJX before earnings and adding to positions in Kimberly-Clark and Constellation Brands.
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