Nasdaq, S&P tumble as Netflix, chip stocks drag


The Dow rose 211.02 points, or 0.56%, to 37,986.40, the S&P 500 lost 43.89 points, or 0.88%, to 4,967.23 and the Nasdaq lost 319.49 points, or 2.05%, to 15,282.01.

NEW YORK: The Nasdaq and the S&P 500 ended lower on Friday as Netflix shares weighed, but American Express kept the Dow afloat after quarterly earnings from both companies, while growing pessimism that the Federal Reserve would cut interest rates soon also dented sentiment.

Netflix slumped as one of the bigger drags on the benchmark S&P index and Nasdaq after the video streaming company's second-quarter revenue view fell short of analysts' expectations while the company also unexpectedly said it would no longer provide subscriber counts.

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