GLOBAL MARKETS-Stocks fall after touching six-week high, dollar weaker after US data

The Dow Jones Industrial Average .DJI fell 137.61 points, or 0.43%, to 31,899.29, the S&P 500 .SPX lost 37.32 points, or 0.93%, to 3,961.63 and the Nasdaq Composite .IXIC dropped 225.50 points, or 1.87%, to 11,834.11. For the week, the Dow advanced 1.96%, the S&P 500 gained 2.56% and the Nasdaq rose 3.33%. The gains for the Dow and S&P marked their biggest weekly percentage gains in four.

NEW YORK: A gauge of global stocks fell on Friday to end the trading week on a down note after five straight sessions of gains, while the dollar dipped against a basket of major currencies after soft data on U.S. business activity.

Wall Street posted modest losses in early trading but declines on the S&P 500 accelerated as Big Tech names such as Meta META.O and Alphabet GOOGL.O lost ground in the wake of earnings from Snap Inc SNAP.N, which plunged 39.08%. Defensive sectors such as utilities .SPLRCU and consumer staples .SPLRCS were among the few advancers.