NEW YORK (Reuters) - U.S. stocks closed lower on Friday in a broad consumer discretionary-led selloff after Visa and Amazon.com, a pair of closely watched bellwether names, reported disappointing results.
While the S&P 500 found support at its 14-day moving average, suggesting the recent positive trend in equities is intact, the day's decline was enough to erase the benchmark index's gain for the week.
Based on the latest available data, the Dow Jones industrial average fell 123.23 points, or 0.72 percent, to 16,960.57, the S&P 500 lost 9.64 points, or 0.48 percent, to 1,978.34 and the Nasdaq Composite dropped 22.54 points, or 0.5 percent, to 4,449.56.
(Editing by Nick Zieminski)
