How major USA stock indexes fared Friday

How major USA stock indexes fared Friday

How major USA stock indexes fared Friday

The tech-heavy NASDAQ was also 0.6 percent lower, ending at 7,839.

NEW YORK-U.S. stocks slid on Friday as economic dilemma in Turkey dragged on bank stocks and triggered fears that it could spread to other global economies.

The Dow and S&P 500 posted declines for the week following five straight weeks of gains, but the S&P 500 remains just 1.4 per cent below its record high from January 26.

The S&P 500 was up 0.59 points, or 0.02 percent, at 2,858.29.

Want to know why the Dow Jones Industrial Average is doing what it's doing?

The S&P technology index fell 1 percent, with Intel down 2.8 percent after Goldman Sachs downgraded the stock to "sell".

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Shares of Apple (AAPL.O) rose 0.8 percent, while those of Amazon (AMZN.O) were up 0.6 percent and Microsoft (MSFT.O) 0.4 percent.

Microchip Technology shares fell 10.9 per cent after a disappointing second-quarter revenue forecast.

The Turkish lira briefly dropped almost 20 percent against the dollar after US President Donald Trump tweeted that he has authorized the doubling of tariffs on steel and aluminum imports from Turkey.

The S&P 500 is up 159.67 points, or 6 percent.

"Problems in emerging markets are more important than ever because of the global growth engine that emerging markets have become", Peter Cecchini, chief market strategist at Cantor Fitzgerald in NY, wrote in a note.

The Dow and the S&P 500 were little changed, while the Nasdaq was firmly higher, propped up by the high-flying technology trio of Apple, Amazon and Microsoft.

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Brent crude futures fell 8 cents to $72.20 a barrel and US crude futures were down 2 cents at $66.92 a barrel.

Sinclair dropped 2.9 percent after Tribune Media dropped its $3.9 billion deal to be acquired by Sinclair and filed a lawsuit against the company for breach of contract.

JPMorgan, Wells Fargo and Bank of America fell more than 1 percent, weighing the most on the benchmark S&P 500.

Citigroup, the most global of the major US banks, fell 2.4 per cent. JPMorgan, Wells Fargo and Bank of America were also lower.

Tesla Inc's TSLA.O shares also fell to a two-day low and wiped out all of the gains fueled by Chief Executive Elon Musk's recent tweet announcing a plan to take the company private.

Declining issues outnumbered advancers for a 2.34-to-1 ratio on the NYSE.

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