NEW YORK, March 14 (Bernama-Xinhua) -- United States (US) stocks finished lower on Friday, as the S&P 500 hit a new low for 2026 and posted its first three-week losing streak in approximately a year, reported Xinhua.
The Dow Jones Industrial Average fell 0.26 per cent to 46,558.47. The S&P 500 sank 0.61 per cent to 6,632.19. The Nasdaq Composite Index shed 0.93 per cent to 22,105.36.
Six of the 11 primary S&P 500 sectors ended in the red.
The technology and materials sectors led the laggards, dropping 1.29 per cent and 1.04 per cent, respectively.
Meanwhile, utilities and consumer staples led the gainers, advancing 0.94 percent and 0.54 percent.
The recent upward momentum in oil prices persisted through the end of the week.
West Texas Intermediate crude futures for April delivery settled 3.11 per cent higher at US$98.71 per barrel.
On the economic front, data released by the US Bureau of Economic Analysis (BEA) showed that the personal consumption expenditures (PCE) price index, a key inflation gauge, rose by 0.3 per cent month over month in January.
The core PCE price index, which excludes volatile food and energy prices and is closely monitored by the Federal Reserve, remained unchanged from its previous pace, rising 0.4 per cent for the month.
The BEA also revised its estimate for fourth-quarter real GDP down to a 0.7 per cent growth rate from a previous reading of 1.4 per cent, indicating a sharper economic slowdown at the end of 2025 than initially thought.
Furthermore, a preliminary reading of March consumer sentiment dropped to its lowest level this year, while the Job Openings and Labour Turnover Survey revealed a slight increase in February job openings.
Corporate earnings and executive shifts drove significant individual stock movements.
Adobe slumped 7.58 per cent following the announcement that its CEO plans to step down after 18 years.
Ulta Beauty sank 14.24 per cent, leading the S&P 500 decliners, due to soft full-year profit and comparable sales forecasts.
In the technology sector, all seven major tech giants closed lower, with Meta Platforms leading the group's decline at 3.83 per cent amid media reports that the company is delaying the rollout of a new artificial intelligence model due to performance concerns.
Market participants are now turning their attention to next week's Fed policy meeting, where the central bank is widely expected to keep interest rates steady.
-- BERNAMA-XINHUA
