Tech sell-off and surging oil prices drag U.S. stocks lower

U.S. stocks ended lower on Friday, driven by a sharp sell-off in technology shares and surging crude oil prices. The Nasdaq fell 2.15 percent, while the S&P 500 dropped 1.09 percent and the Dow slipped 0.34 percent. Energy and utilities led gains, advancing 2.47 percent and 1.4 percent, while technology and communication services tumbled 2.54 percent and 2.45 percent. For the week, the Nasdaq dropped 4.5 percent, its worst performance since late June, though the Dow gained 0.7 percent. Brent crude touched 109.86 dollars per barrel, a first since May, amid Middle East tensions. Federal Reserve Chair Kevin Warsh declined to provide rate guidance, lowering market expectations for an October hike to 17 percent.