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Dow is down 180 points as stocks decline weekly due to technology-led weakness

Shares ended on a lower Friday, with weekly losses from a technology-led decline. The Dow Jones Industrial Average DJIA,
fell around 182 points, or 0.7%, to close around 26,470, according to preliminary figures, while the S&P 500 SPX,
lost about 20 points, or 0.6%, to 3.216. The Nasdaq Composite COMP,
finished with a loss of about 98 points, or 0.9%, almost 10,363. Stocks were under pressure as tensions between the US and China remained high. Beijing ordered the closure of the US consulate in the western Chinese city of Chengdu, in retaliation for Washington’s earlier demand that China close its consulate in Houston. Meanwhile, technical stocks led to a decline this week as some investors were looking to spin out of the high-flying sector. Apple Inc. AAPL,
shares fell 3.9% this week. Shares of Dow component Intel Corp. INTC,
were Friday’s big losers, falling more than 15% after revealing that the next generation of chips would be delayed and that it might be looking for a third-party manufacturer to make them. For the week, the Dow fell 0.8%, while the S&P 500 lost 0.3%. The Nasdaq decreased by 1.3% weekly.