by Caroline Valetkevitch
NEW YORK (Reuters) – The New York Stock Exchange ended lower on Friday as technology stocks retreated after their recent rally and as a survey showed U.S. household sentiment deteriorated in May.
The Dow Jones index fell 0.03%, or 8.89 points, to 33,300.62 points.
The broader S&P-500 fell 6.54 points, or 0.16%, to 4,124.08 points.
The Nasdaq Composite fell for its part by 43.76 points (0.35%) to 12,284.743 points.
Preliminary results from the University of Michigan’s monthly survey showed that US household sentiment deteriorated more than expected in May to fall to its lowest level since November, sending indices into the red .
Investors are also worried about a possible default by the United States on their debt, while discussions on raising the debt ceiling are deadlocked and the June 1 deadline draws near.
Fears of seeing the US economy slide into recession due to rate hikes decided by the Federal Reserve (Fed) are also strong.
At stocks, Tesla ended lower after jumping more than 2% after Elon Musk announced he had found a new CEO for Twitter.
The boss of Tesla announced on Friday the appointment as general manager of Twitter of Linda Yaccarino, who has just left her post at NBCUniversal.
The tech sector was down, with Apple posting the biggest drop.
(Report Caroline Valetkevithc, with the contribution of Shreyashi Sanyal and Shristi Achar A; Camille Raynaud)
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