Shares of technology companies rose, but not by as much as some sectors, as a violent sector rotation continued.
The Nasdaq Composite flirted with correction territory early on Friday's session, and some of the biggest gainers of the bull market remained in the red at the close.
Shares of Tesla fell by more than 3.5% to close just below $600, after trading as low as $546 during the session. At their lows, the electric car maker's shares had lost more than one third of their value since a recent peak.
Prominent tech investor Cathie Wood's ARK Investment Management's highflying exchange-traded funds entered bear-market territory during the session, another sign that the market leadership is changing.
Digital photography concern Shutterfly is the latest tech company in talks to go public through a merger with a blank-check company, according to people familiar with the matter, less than two years after Apollo Global Management took the online-photo-book maker private.
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(END) Dow Jones Newswires