US stocks closed lower on Friday, affected by the decline in the main stocks related to the technology sector, while the data showed that the US consumer confidence index fell to its lowest level in six months.
Tesla shares fell at the close of trading, after jumping more than two percent on Thursday, after its CEO Elon Musk announced the appointment of Linda Icarino as CEO of Twitter.
Technology stocks in the Standard & Poor’s 500 index fell, with Apple among the biggest losers. The technology index is still up about 22 percent so far this year.
What added to investors’ concerns is that the consumer confidence index fell in May to its lowest level since November, as the crisis of raising the government debt ceiling in the United States raised concerns about the economic outlook.
Investors are concerned that sharp increases in US interest rates could push the economy into recession.
According to preliminary data, the Standard & Poor’s 500 index lost 6.48 points, or 0.16 percent, to close at 4,124.14 points, while the Nasdaq Composite Index lost 43.76 points, or 0.35 percent, to 12,284.74 points. The Dow Jones Industrial Average fell 8.86 points, or 0.03 percent, to 33,300.65.