Wall Street stocks were sliding Friday, with markets pulling back from their latest all-time highs, the Associated Press reports. The news followed a report that a key measure of inflation held steady last month.
The S&P 500 dipped 0.5% a day after reaching a record high and is set to end August at around a 2% gain. The index will have seen gains for four consecutive months.
The Dow Jones Industrial Average, also retreating from a record high, lost 0.3%, and the Nasdaq composite fell 0.9%.
Technology losses pulled the market lower and offset gains in health care and other sectors.
Dell Technologies dropped 9.7% for the biggest decline among S&P 500 stocks a day after the company reported second-quarter revenue that exceeded analysts’ expectations.
Tech giant Nvidia shed 2.8%, Broadcom lost 2.7% and Oracle was 3.6% lower.
Treasury yields mostly rose in the bond market. The yield on the 10-year Treasury rose to 4.23% from 4.21% late Wednesday, and the yield on the two-year Treasury held steady at 3.63%.
