Selling accelerated at the end of the session, and leading shares, including Microsoft, Apple and Amazon, pressured the Nasdaq index, which is filled with technology stocks.
Interest rate-sensitive banking stocks helped ease pressure on the Dow Jones Index.
A mixed batch of economic data, led by better-than-expected retail sales, boosted the likelihood of a further 75 basis point rate hike at the conclusion of the Federal Reserve’s monetary policy meeting next week.
According to preliminary data, the Standard & Poor’s 500 index fell by 44.40 points, or 1.13%, to close at 3901.61 points, while the Nasdaq Composite lost 166.19 points, or 1.42%, to fall to 11553.49 points. The Dow Jones Industrial Average fell 173.24 points, or 0.56%, to 30,961.85 points at the close.
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