U.S. stocks closed the week in the negative on Friday as investors braced for tighter monetary policy from the Federal Reserve.
The Dow Jones Industrials jumped 137.55 points to end the day and the week at 34,731.12.
The S&P 500 settled in the red 11.93 points to 4,488.28
The NASDAQ Composite tumbled 186.3 points, or 1.3%, to 13,711 for its first weekly loss in four weeks.
Tech stocks led the day's losses as investors dumped the riskier shares in anticipation of higher interest rates limiting the group's future profit growth.
Chipmakers like Nvidia dipped 4.5% while and Micron, lost 1.4%, while shares of Tesla subsided 3%, Alphabet lost 1.2%, and Apple moved 1.4% lower
Shares of Robinhood slipped nearly 7% after Goldman Sacks downgraded the trading app to sell from neutral and UPS fell about 1% on the back of a downgrade from Bank of America citing concerns about weakening demand and declining prices in the industry.
The health-care and consumer staples sectors rallied this week as investors worried about a slowing economy pivoted toward stocks with stable earnings. Merck and UnitedHealth Group inched higher again on Friday. Merck closed the week 5% higher while UnitedHealth hiked 6.5.
Meanwhile, financial sector companies like JPMorgan Chase and American Express rebounded, giving up some of the week's earlier losses.
Energy companies including Occidental Petroleum and Halliburton moved higher on Friday.
Treasury prices fell as yields increased to 2.71%, from Thursday's 2.65%. Treasury prices and yields move in opposite directions.
Oil prices strengthened $1.90 to $97.93 U.S. a barrel.
Gold prices added $10.70 to $1,948.50 U.S. an ounce.