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 concluded without major policy breakthroughs, leaving traders concerned.
The S&P 500 fell by 0.7%, while the Nasdaq Composite declined by 0.9%. The Dow Jones Industrial Average dropped 379 points, or 0.8%.
Investors took profits in tech stocks after recent sharp gains.
Notably, Intel retreated 6%, while Advanced Micro Devices and Micron Technology declined 3% and 4%, respectively.
Nvidia decreased by 3%, and Cerebras Systems which surged 68% on Thursday after its Nasdaq debut fell 4%.
Source (CNBC)
