US Stocks Fall But Notch August Gain as Traders Assess Inflation
US stocks retreated from records Friday, spurred by declines in technology companies as investors took profits after the Federal Reserve’s preferred measure of underlying inflation remainedstubbornly highlast month.
TheS&P 500 Indexshed 0.6%, falling below the key 6,500 level. The gauge still notched four straight months of gains and finished this week flat. TheNasdaq 100 Indexlost 1.2%. Trading volume was about 20% below its 30-day average ahead of the Labor Day holiday. The S&P 500 has dropped 0.1% on average on the Friday before this holiday in the past two decades, according to the Stock Trader’s Almanac.
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