Stocks came under pressure Friday afternoon, reversing early gains.

The S&P 500 finished down 0.19% at 3,906.71.

Though the major indexes traded higher for most of the morning, a combination of rising interest rates and profit taking in some of the market’s largest technology companies appeared to dampen optimism after noon.

Cyclical stocks outperformed the broader market with the materials, energy and industrials sectors up 1.8%, 1.7% and 1.6%, respectively. Utilities and consumer staples stocks were among the biggest laggards.

Not all of technology underperformed as chipmakers proved resilient. Applied Materials, which makes the equipment used to manufacture semiconductors, gave a better-than-expected second-quarter forecast after the bell Thursday. The shares gained 5.3% Friday.

Some investors have said pessimism over a jump in interest rates and the potential for inflation have kept Wall Street in check in recent sessions. The 10-year Treasury yield this week rose to the highest in nearly a year, and on Friday rose another 5 basis points to 1.34%.

Stock futures held steady in overnight trading on Sunday after the S&P 500 posted its first losing week in three.

The Nasdaq Composite gained less than 0.1% to finish at 13,874.46.

Some equity investors grew concerned about rapidly rising bond yields in recent weeks as they could especially hurt high-growth companies reliant on easy borrowing while diminishing the relative appeal of stocks.

The market is headed into the final week of February with solid gains. The Dow and the S&P 500 have risen more than 5% this month, while the Nasdaq has climbed 6.2%. The small-cap Russell 2000 outperformed with a 9.3% gain this month.

On the pandemic front, the White House said that it expects to ship out millions of delayed coronavirus vaccine doses this week after a sweeping winter storm disrupted logistics.