Wall Street falls as Amazon earnings disappoint

U.S. stock indexes closed lower Friday, with renewed concerns about a rise of cases of the delta variant COVID-19 and disappointing results from Amazon.com partly blamed for the slump.

The Dow Jones Industrial Average fell 149.06 points, or 0.4%, to 34,935.47. The S&P 500 index declined 23.89 points, or 0.5%, to 4,395.26. The Nasdaq Composite Index dropped 105.59 points, or 0.7%, to 14,672.68.

Technology stocks contributed to the drop in U.S. stocks. Amazon sank nearly 7.6% after it reported its first quarterly revenue miss in three years and gave weaker guidance. Pinterest fell even further, down 18.2%, after saying it lost monthly users during the three months ended June 30.

Shares of other internet and tech giants including Google parent Alphabet Inc and Facebook Inc, were mostly lower as well.

Data on Friday showed the core personal consumption expenditures price index rose 3.5% in June year over year.

A final reading of the University of Michigan's consumer-sentiment index fell to 81.2 in July from a reading of 85.5 in June, though it exceeded the initial July figure of 80.8.

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