NEW YORK - Wall Street stocks dropped on Friday , retreating from records, as investors took profits following a strong US jobs report that wrapped up a week of solid economic data.
"It's been an explosive week and it's not unusual for that to precipitate some profit taking," said Art Hogan, chief market strategist at National Holdings. Investors have largely shrugged off the virus in recent days, but continue to monitor developments and recognize it as a drag on growth early in 2020.The broad-based S&P 500 slid 0.5 per cent to close at 3,327.71, while the tech-rich Nasdaq Composite Index also shed 0.5 per cent to 9,520.51.
Among individual companies, Uber Technologies surged 9.5 per cent as it moved up the target date for becoming profitable to the fourth quarter of 2020, rather than in 2021.