US stocks fell in the afternoon trading as investors took profits following a strong week that saw the S&P 500 reach record highs, amid signs that inflationary pressures remain persistent in the US economy. The S&P 500 lost 0.8%, the Nasdaq 100 declined 1.4%, and the Dow slipped 0.4%.
Technology shares leading the retreat, with Nvidia dropping 3.8% as cautious guidance on China sales weighed on sentiment, while Dell slumped 8.6% after disappointing forecasts. Inflation remained in focus as the Fed's preferred gauge, the core PCE index, rose 2.9% year-on-year in July, the highest since February and above the central bank's target.
Additional pressure came from renewed tariff concerns, with Caterpillar warning of up to $1.8 billion in related costs this year. Despite Friday's pullback, all three indexes remained on track to close August with solid monthly gains, extending their longest winning streak in more than a year.
Source: Trading Economi
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