US stocks pulled back on Friday, signaling a retreat from all-time highs as European turmoil rattled nerves and Elon Musk's pay package win thrust Tesla (TSLA) center stage.
The Dow Jones Industrial Average (^DJI) sank about 0.5% to lead the declines, while the S&P 500 (^GSPC) shed 0.4%. The tech-heavy Nasdaq Composite (^IXIC) dropped 0.3%.
Stocks are losing steam after the benchmark S&P 500 and the Nasdaq nailed record closes for the fourth day in a row, boosted by strength in techs. Both indexes are still on track for weekly gains.
A surprise cooling in wholesale price pressures gave heart to investors betting on two interest-rate cuts this year, since the decline is likely to be reflected in the coming PCE inflation reading watched by the Federal Reserve.
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