Slumping financial stocks weighed on the main indexes.
US stocks slumped on Friday, as sharp losses at financial companies offset gains in other sectors, while investors turned their attention to the G20 meeting underway in Germany.
The S&P 500 Index (NYSEARCA:SPY) declined 0.1% to settle at 2,378.25, reversing an earlier gain of 0.2%.
The Dow Jones Industrial Average (NYSEARCA:DIA) declined 0.1% to close at 20,914.62, with 14 members reporting a down session.
The Nasdaq Composite Index (NYSEARCA:QQQ) settled flat at 5,901.00. The technology-heavy index was on track for new record highs earlier in the day.
A measure of implied volatility known as the CBOE VIX (NYSEARCA:VXX) was virtually unchanged Friday, reversing an earlier loss that would have sent it to two-week lows. The volatility gauge nudged up 0.6% to 11.28, on a scale of 1-100 where 20 represents the historical average.
Finance ministers from the Group of 20 nations gathered in Germany on Friday in a high profile meeting. US Treasury Secretary Steven Mnuchin is attending the two-day summit, where he will try to convince his colleagues to strengthen their respective currencies. The US dollar has gained more than 20% against a basket of other major currencies since mid-2014. Some say the value of the greenback could reach new highs as the Federal Reserve normalizes monetary policy.
In economic data, US manufacturing and mining activity rose sharply in February, but warm winter weather sent utilities tumbling. As a result, industrial output was flat last month, data from the Federal Reserve showed on Friday. Analysts in a median estimate forecast a gain of 0.1%.
The Final Word: Although the Trump rally appears to have slowed, US stocks are trading comfortably near all-time highs. Market volatility remains low, which could support further short-term gains.