Stocks declined on Friday, weighed down by losses in technology stocks and a rise in U.S. Treasury yields, following a summit between President Donald Trump and Chinese President Xi Jinping that ended without major policy breakthroughs, causing trader concerns.
The S&P 500 fell by 1.1%, while the Nasdaq Composite declined 1.3%. The Dow Jones Industrial Average dropped 480 points, or 1%.
Investors took profits in tech stocks after recent gains.
Notably, Intel retreated 5%, Advanced Micro Devices and Micron Technology fell 3% and 4%, respectively.
Nvidia declined 2%, and Cerebras Systems  which surged 68% on Thursday after its Nasdaq debut  shed 4%.
Source (CNBC)
