Nasdaq closes lower as tech stocks decline

The Nasdaq Composite Index fell 66.05 points, or 0.6%, finishing at 10,853.55 in another volatile session on Friday on continuing sell-off in tech stocks.

The Dow Jones Industrial Average rose 131.06 points, or 0.5%, ending at 27,665.64; while the S&P 500 rose 1.78 points, or 0.1%, to close at 3,340.97.

Apple dropped 1.3% and Amazon fell by 1.9%. Facebook, Alphabet and Microsoft were all down.

The Labor Department said Friday its U.S. consumer price index rose by 0.4% in August.

The Treasury Department said the federal budget deficit officially surpassed $3 trillion in August, and is on pace to hit $3.3 trillion when the fiscal year ends this month.

 

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