Stocks fell on Friday, sending the S&P 500 and the Nasdaq to more than two-week lows, as Treasury yields rose following hawkish remarks from several policymakers, while Broadcom’s latest results sparked concerns about an AI-fueled bubble.

Wall Street ended lower as Nasdaq fell 1.69% to 23195.17, S&P 500 dropped 1.07%, and Dow Jones Industrial Average slipped 0.51%.

Stock futures were mixed Friday, with the Dow Jones Industrial Average ticking higher and the S&P 500 slipping after each set a closing record, while the Nasdaq pointed sharply lower as tech shares continued to decline on AI bubble fears.

Wall Street's main indexes had a subdued open on Friday as investors avoided large bets and awaited a long-delayed key inflation report that could shape the Federal Reserve's policy path. The Dow Jones Industrial Average rose 28.

A central bank divided against itself cannot stand.

The S&P 500 slipped 0.3% for just its second loss in the last 11 days, but it remains within 0.6% of its all-time high set in October. The Dow Jones Industrial Average dropped 215 points, or 0.4%, and the Nasdaq composite edged down by 0.1%.