Technology shares led Wall Street's drop on Friday after National Semiconductor's
The energy and materials sectors also fell, with a stronger dollar and profit-taking supporting declines in oil and commodity prices, which have recently jumped.
Among the tech bellwethers, iPod and iPhone maker Apple Inc
Chipmaker National Semiconductor Corp
We've got a bit of a sell-off in technology across the board. That has been the driving force in the market so far, said Tim Smalls, head of U.S. stock trading at Execution LLC in Greenwich, Connecticut.
Economic activity is picking up a little bit, but we're nowhere close to being out of the woods. If we're getting out of the woods based on better-than-expected economic reports, it is going to take a long time.
The Reuters/University of Michigan Surveys of Consumers showed consumers' mood in June stood at its highest in nine months, but worries about inflation and labor market uncertainty persisted.
The Dow Jones industrial average <.DJI> shed 2.20 points, or 0.03 percent, to 8,768.72. The Standard & Poor's 500 Index <.SPX> fell 3.19 points, or 0.34 percent, to 941.70. The Nasdaq Composite Index <.IXIC> dropped 18.98 points, or 1.02 percent, to 1,843.39.
In the materials sector, AK Steel
But the healthcare sector rose as investors rotated money into defensive plays. Drugmaker Merck
Shortly before midday the New York Stock Exchange was hit by a technical glitch that temporarily halted trading in about 240 stocks, including blue-chips General Electric
(Editing by Jan Paschal)