Stocks were sliding on Friday with all three major indexes set to log gains both for the session and the week.
Near 1:15 p.m. ET, the S&P 500 (^GSPC) was off more than 0.5%, the Dow Jones Industrial Average (^DJI) down 0.4%, and the tech-heavy Nasdaq Composite (^IXIC) was off nearly 0.8%.
Stocks had opened Friday’s session higher but forfeited those gains in late morning trade after consumer sentiment data from the University of Michigan on Friday showed a notable increase in consumer inflation expectations.
All three indexes were on pace to log weekly losses as of Friday afternoon.
Ahead of the weekend, investors will continue to closely track updates on the ongoing debt ceiling negotiations, with a key meeting between President Joe Biden and House Speaker Kevin McCarthy postponed until next week.