The S&P 500 and Nasdaq closed lower on Friday as disappointing quarterly reports from Snap Inc. and Intel Corp. put pressure on the communications and technology sectors and investors turned skittish as Federal Reserve Chair Jerome Powell discussed stimulus tapering.
The Dow managed to end the day with a record closing high for the first time since Aug. 16, but all three indexes had lost ground in morning trading while Powell was speaking but went on to pare losses in a choppy session.
