Shares of Verizon (NYSE: VZ) fell as much as 3.3% in trading on Friday as the market faces pressure from the continued increase in interest rates. At 3:30 p.m. ET, shares were down 1.1%, still well behind the S&P 500's gain of 1.3% for the day. 

Verizon continues to battle rising interest rates, and the U.S. 10-year government bond yield was up 6 basis points to 4.78% today. This continues a long streak of increases, not only this week, but also over the past year.

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Source Fool.com