US stocks ended lower on Friday after Federal Reserve Chair Kevin Warsh reinforced the central bank's commitment to bringing inflation back to its 2% target, prompting investors to reassess expectations for a September rate move, Reuters reported.S&P 500 fell 19.94 points, or 0.26%, to 7,711.05, while the Nasdaq Composite dropped 140.79 points, or 0.53%, to 26,400.56. The Dow Jones Industrial Average slipped 11.06 points, or 0.02%, to 53,558.38.Warsh's first speech at Jackson Hole offered little support to hopes that the Federal Reserve could ease its stance on inflation. Instead, his remarks pushed traders to increase bets on a rate hike next month, although expectations remained split between a hike and a hold.Without confidence that inflation was heading clearly and with sufficient speed toward the Fed's 2% goal, the central bank would have "more work to do," Warsh said. He also said recent inflation data did not point to a change in trend."Why the market is modestly reacting is he (Warsh) is very adamant that the 2% inflation target is going to remain. He is reiterating the hawkishness, but in a more of a consistent way than an incremental way," said Mark Hackett, chief market strategist for Nationwide, according to Reuters."There's been somewhat misguided thoughts among investors that this would soften a little bit. Clearly, that's not the case."Warsh's remarks came at the end of a week that had already kept markets focused on the outlook for interest rates, with corporate results from Nvidia and Salesforce adding another layer to investor sentiment."We were encouraged by Warsh's speech. But talk is cheap," Aditya Bhave, head of U.S. economics research at Bank of America, said in a note, according to Reuters.Bhave said Warsh would need to deliver a rate hike in September unless August jobs and inflation data came in very soft. Otherwise, he said, Warsh would probably lose credibility.The market's reaction was also shaped by a mixed performance in technology stocks. Chip shares pulled back after rallying in the previous session on Nvidia's stronger-than-expected forecast, which had renewed optimism around the durability of the artificial intelligence boom.Nvidia shares slipped, while Marvell Technology fell sharply as investors questioned the timing of revenue from its AI chip agreement with Alphabet's Google, despite the company raising its 2027 revenue forecast.Several megacap stocks, however, offered some support. Alphabet rose, making communication services the strongest boost to the S&P 500, while Apple also gained. Salesforce extended its advance from the previous session, helping support the Dow.Elsewhere, PayPal fell after Bloomberg News reported that a consortium comprising buyout firm Advent and payments processor Stripe had abandoned its pursuit of the payments company. Gap shares advanced after the retailer appointed industry veteran Michael Francis as Old Navy's new CEO and raised its annual profit forecast.Ulta Beauty declined after comparable sales growth slowed in the second quarter.The University of Michigan's final consumer sentiment reading stood at 51.7, compared with the 51 estimate from economists polled by Reuters, adding another data point for investors weighing the outlook for the economy and Fed policy. (Disclaimer: This article is based on inputs from agencies. These do not represent the views of The Economic Times)