Stocks declined on Friday, weighed down by losses in technology shares and a rise in U.S. Treasury yields, following a summit between President Donald Trump and Chinese President Xi Jinping that concluded without significant policy breakthroughs, leaving traders worried.
The S&P 500 fell by 1%, while the Nasdaq Composite declined by 1.3%.
The Dow Jones Industrial Average dropped 515 points, or 1%.
Investors took profits in tech stocks after recent sharp gains.
Notably, Intel retreated 6%, while Advanced Micro Devices and Micron Technology declined 3% and 5%, respectively.
Nvidia decreased by 3%, and Cerebras Systems which surged 68% on Thursday after its Nasdaq debut fell 4%.
Source (CNBC)
