Tech stocks drive Nasdaq higher; Dow, S&P flat

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The Nasdaq Composite dropped 57.07 points, or 0.72 per cent, to 7,834.71 at the opening bell.

Global stocks fell Friday, the euro declined and investors moved into the dollar amid fears that ongoing financial instability in Turkey will impact other markets.

The Russell 2000 gained 13.43 points, or 0.8 percent.

The Dow Jones Industrial Average fell 16.94 points, or 0.07 percent, to 25,566.81.

The Dow is up 46.65 points, or 0.2 percent.

The Dow and the S&P 500 were little changed, while the Nasdaq was firmly higher, propped up by the high-flying technology trio of Apple, Amazon and Microsoft.

The Russell 2000 index of smaller-company stocks fell 4.08 points, or 0.2 per cent, to 1,686.80.

Markets in Europe were also turbulent with Germany's DAX falling two percent, French CAC 40 falling nearly two percent, and Britain's FTSE 100 declining 0.8 percent. Occidental Petroleum OXY.N fell 4.2 percent after it maintained a tepid production forecast for the year.

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President Donald Trump doubled tariffs on aluminum and steel imports from Turkey, deepening the currency's losses and raising concerns that the crisis could weigh on other economies.

Energy weighs on the S&P 500 on Thursday.

"Today's impact has set the markets in a temporary risk-off sentiment", said Matt Forester, chief investment officer of BNY Mellon's Lockwood Advisors.

Rite Aid RAD.N fell 11.5 percent after the drug store chain and USA grocer Albertsons Cos ABS.N agreed to terminate their merger agreement.

Bank shares led the way lower in the U.S.as Bank of America, Goldman Sachs and Morgan Stanley all dropped at least 1 percent.

Shares in trade-sensitive companies fell.

Advancing issues outnumbered decliners by a 1.80-to-1 ratio on the NYSE.

Oil prices were down slightly as the escalating China-U.S. trade dispute cast doubt on the outlook for crude demand. Excluding the energy sector, the earnings growth estimate declines to 20.4 percent, according to Thomson Reuters.

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