Stocks Poised for Declines as Indexes Pull Back on Dollar Strength
Stocks in the US were in retreat near the close on Friday, pulling away from levels that approached record highs earlier in the week as the dollar surged on expectations that the Federal Reserve will hike rates next month after statements by policy makers bolstered the prospects.
Health care stocks led declines, with the sector falling 1% on the S&P 500 to lead six of the 11 groups lower. The Nasdaq touched an intraday record high before moving into the red, and the Dow Jones Industrial Average saw 18 of its 30 components sliding ahead of the bell.
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