Wall Street rally fizzles out as Evergrande worries persist; Nike drops

Nike slips after cutting full-year sales estimate; crypto firms fall as China's crackdown deepens

U.S. stock indexes fell on Friday following a two-day rally, as worries persisted about the spillover from debt-laden China Evergrande, while Nike tumbled after cutting its sales forecast.

Six of the 11 major S&P sectors advanced in early trading, with economy-sensitive energy, financials and defensive utilities shares leading gains. Technology and consumer discretionary were the biggest losers.

Nike Inc dropped 6.5% to weigh the most on the Dow and the S&P 500 after warning of delays during the holiday shopping season, blaming a supply chain crunch.

Shares of peer Under Armour also fell 3%, while footwear retailer Foot Locker dropped 5.7%.

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