U.S. equities saw their biggest weekly decline since the end of February after reignited inflation fears outweighed a drop in unemployment numbers and a dramatic expansion of the nation’s reopening efforts.

The S&P 500 index fell 1.4 percent during the five-day period to 4,173, the lowest level in more than a month. Technology and consumer discretionary stocks were the biggest drags on the benchmark, with Hanesbrands Inc. as the largest decliner. The Dow Jones industrial average slipped 1.1 percent on the week, and the Nasdaq slid 2.3 percent.

On Monday, data showing that the consumer price index grew at a 4.2 percent annual rate — the fastest in more than a decade — increased inflation fears, spurring broad market sell-offs. Dip buyers returned to the market on Thursday and Friday, as the Centers for Disease Control and Prevention said that fully vaccinated Americans no longer needed to wear masks indoors.

“The pullback earlier this week was an opportunity for long-term investors to get into some great positions,” said Nick Licouris, an investment adviser at Gerber Kawasaki. “This is completely healthy for the overall market to see these pullbacks to readjust and digest new data coming out.”

The Treasury will sell 13-week and 26-week bills on Monday and four-week and eight-week bills on Thursday.