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US stocks ended lower on Friday after disappointing results from Snap Inc. (NASDAQ: SNAP) led to a fall in social media stocks.
The Dow Jones Industrial Average lost 137.61 points, or 0.4%, to end at 31,899.29. The S&P 500 slipped 37.32 points, or 1%, to close at 3,961.63. The Nasdaq Composite dropped 225.50 points, or 1.9%, finishing at 11,834.11.
The S&P 500 advanced about 2.6% for the week, while Nasdaq capped the week up 3.3%.
Stocks closed lower on Friday, after the S&P 500 index briefly broke above 4,000 for the first time since June 9, with shares of technology companies tumbling after Snap’s results.
Market movers
The 10-year Treasury yield fell 12.7 basis points to 2.781%, its lowest yield since May 27.
Meanwhile, Bitcoin fell 2.1% to $22,725.
Shares of Meta Platforms (NASDAQ: META) and Pinterest (NYSE: PINS) fell about 7.6% and 13.5%, respectively, while Alphabet (NASDAQ: GOOGL) lost 5.6%.
Shares of Verizon Communications Inc. (NASDAQ: VZ) tumbled 6.7% after the telecommunications group cut full-year guidance and missed second-quarter earnings and revenue estimates.
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