The Dow Jones Industrials decreased 218.02 points to end the week at 33,728.69.
The S&P 500 sank 33.54 points to 4,348.35.
The NASDAQ index stumbled 138.09 points, or 1%, to 13,492.52.
All three major averages broke multi-week winning streaks. The S&P 500 has lost more than 1% since the start of the week, ending five consecutive weeks of gains. The NASDAQ is also down more than 1%, snapping an eight-week win streak and posting its worst weekly performance since March.
The pullback was broad-based with more than 460 S&P 500 stocks trading in negative territory. Information technology was the biggest laggard, down more than 1%. Notably, shares of Nvidia, a major AI beneficiary, were down 2%.
Meanwhile, Goldman Sachs declined after reports the investment bank likely faces a large writedown for its 2021 acquisition of fintech firm GreenSky. The stock was down about 1%, weighing on the Dow.
In contrast, CarMax shares jumped more than 9% after the used car retailer exceeded first-quarter revenue expectations.
Prices for the 10-year Treasury jumped, lowering yields to 3.74% from Thursday’s 3.80%. Treasury prices and yields move in opposite directions.
Oil prices fell 20 cents to $69.31 U.S. a barrel.
Gold prices took on $5.50 to $1,929.20 U.S. an ounce.