U.S. tech shares fell on concern a global trade war could sap profit. The dollar strengthened after data showing broad gains in retail sales suggested the economy is healthy enough to go without an interest-rate cut.
Chipmakers tumbled the most in almost a month after Broadcom Inc. trimmed its sales forecast, weighing on the S&P 500 Index. The benchmark stock gauge pared losses in afternoon trading and notched a 0.5% weekly gain. Treasury yields erased declines after May’s retail sales data was seen as undermining the case for a dovish turn by the Federal Reserve.