Technology stocks are dragging down the market Friday as Wall Street closes out a holiday-shortened week. The S&P 500 fell 1.3%, with more than 90% of stocks in the benchmark index losing ground. The benchmark index was managing to hold onto a modest gain for the week.

Investors assessed November inflation numbers from Japan's capital of Tokyo, which saw its headline inflation rate come in at 3%, compared to 2.6% in October.