Stocks turned lower Friday on Wall Street as economic data caught up with optimism provided by corporate reports.
Technology firms led a late rally Thursday. But a recent report on existing home sales, which fell in June, and a negative outlook voiced by Federal Reserve Chairman Ben Bernanke in recent testimony, contributed to Friday's backslide.
In afternoon trading on Wall Street, the Dow Jones industrial average lost 126.43 points or 0.98 percent to 12,816.93. The Standard & Poor's 500 index shed 13.48 points or 0.98 percent to 1,363.03. The tech-heavy Nasdaq composite index gave up 35.10 points or 1.18 percent to 2,930.80.
The benchmark 10-year treasury note rose 18/32 to yield 1.45 percent.
The euro fell to $1.216 from Thursday's $1.228. Against the yen, the dollar fell to 78.5 yen from 78.59 yen.
In Tokyo, the Nikkei 225 index lost 1.43 percent, 125.68, to 8,669.87.
In London, the FTSE 100 index slid 1.09 percent, 62.42, to 5,651.77.