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How major US stock indexes fared Friday

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How major US stock indexes fared Friday

The S&P 500 was down 4.12 points, or 0.14 percent, to 2,853.58. The S&P technology index fell 0.8 per cent, with Intel down 2.6 per cent after Goldman Sachs downgraded the stock to "sell".

The S&P 500 is up 159.67 points, or 6 percent.

That was a drop of 0.7 percent from Thursday's close.

On Wall Street, the benchmark S&P 500 index rose modestly and remained less than half a percentage point from breaching an all-time high that was set in January.

"Today's impact has set the markets in a temporary risk-off sentiment", said Matt Forester, chief investment officer of BNY Mellon's Lockwood Advisors.

The number of Americans filing for unemployment benefits unexpectedly fell last week, a Labor Department report showed.

The Dow Jones Industrial Average fell 69.30 points, or 0.27%, to 25,514.45, the S&P 500 erased 3.57 points, or 0.12%, to 2,854.13 and the Nasdaq Composite gained 5.03 points, or 0.06%, to 7,893.35.

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All the 11 major S&P sectors were trading in the red.

Russia's dollar-traded RTS index plunged over three percent, Brazil Bovespa index was losing 2.3 percent, and the Turkish Borsa Istanbul index saw a 5.4 percent sell-off.

The Nasdaq inched toward a record on the back of high-flying technology trio of Apple, Amazon and Microsoft, while gains in the Dow and the S&P 500 were limited as energy shares fell. Tribune shares rose 2.9 percent.

However, chip stocks fell after Morgan Stanley downgraded the US semiconductor industry, saying upside to estimates is hard to come by.

Rite Aid (RAD.N) fell 10.6 percent and was the most actively traded stock after the drug store chain and US grocer Albertsons Cos ABS.N agreed to terminate their merger agreement. Micron also fell 1.1 percent.

On the TSX 78 issues advanced and 162 declined as a 0.5-to-1 ratio favoured decliners.

Declining issues outnumbered advancing ones on the NYSE by a 1.04-to-1 ratio; on Nasdaq, a 1.10-to-1 ratio favored advancers. The DXY dollar index stood 0.5% higher Friday.

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