US Market Indexes Close With Losses on Friday

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The Nasdaq Composite also pulled back 0.7 percent to 7,839.11 and snapped an eight-day winning streak.

Investors were anxious about the financial stability of Turkey, and how it might affect the global financial system.

The geopolitical turmoil in Turkey is certainly making waves across the global economies, particularly in the United States where the Dow Jones Industrial Average fell over 200 points today. The S&P 500 gained 1.2 points, or 0.04 percent, to 2,858.9 and the Nasdaq Composite added 27.98 points, or 0.35 percent, to 7,916.30. The S&P financial index .SPSY was down 0.6 percent.

The TSX's energy group rose 0.22 points, or 0.11 per cent, while the financials sector slipped 1.81 points, or 0.59 per cent.

The Russell 2000 index of smaller-company stocks picked up 4.01 points, or 0.2 percent, to 1,690.89.

A slump in the Turkish lira worsened after U.S. President Donald Trump doubled tariffs on steel and aluminum imported from the country.

"Investors are more comfortable with FAANG stocks and technology as far as valuations go, and these stocks have higher margins", Tom White, chief market strategist at TradeWise Advisors, in Chicago, Illinois, told Reuters.

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The S&P financial index fell 1.4 percent, among the biggest drags on the S&P 500. The S&P is also less than half a percent shy of the record it hit in late January.

Russia's dollar-traded RTS index plunged over three percent, Brazil Bovespa index was losing 2.3 percent, and the Turkish Borsa Istanbul index saw a 5.4 percent sell-off.

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 of trade-sensitive companies declined, with Boeing, 3M and Caterpillar down between 2.3 percent and 4 percent.

Declining issues outnumbered advancing ones on the NYSE by a 1.04-to-1 ratio; on Nasdaq, a 1.10-to-1 ratio favored advancers.

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