NEW YORK: The Dow and S&P 500 ended modestly lower on Friday, dragged down by losses in blue-chip technology stalwarts Intel and IBM following their quarterly results, as hopes for a full economic reopening in the coming months waned.
Energy and financials were the worst performers among the 11 S&P sectors on Friday, while the defensive utilities and real estate groups advanced. The Dow Jones Industrial Average fell 179.03 points, or 0.57per cent, to 30,996.98, the S&P 500 lost 11.6 points, or 0.30per cent, to 3,841.47 and the Nasdaq Composite added 12.15 points, or 0.09per cent, to 13,543.06.
With stock valuations nearing levels not seen since the Dotcom era, some market participants said new COVID-19 variants and hiccups in vaccine rollouts pose near-term risks.
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