Tech stocks drive Nasdaq higher; Dow, S&P flat

Dow down 200 emerging markets crashing on US-Turkey geopolitical concerns

The S&P 500 posted 12 new 52-week highs and 10 new lows; the Nasdaq Composite recorded 87 new highs and 102 new lows.

Meanwhile, in the USA, the dollar strengthened, gaining 0.68%.

USA stocks slid on Friday as a deepening economic crisis in Turkey dragged on bank shares and triggered a move out of riskier assets. Tribune shares rose 0.3 percent.

The VIX Volatility Index was higher at 13.20 for a gain of 1.93 points or 17.13%.

Year to date, the Dow Jones has a gain of 4.29%, the S&P 500 has gained 7.73% and the Nasdaq Composite has a return of 14.74%.

In small-caps, the Russell 2000 closed at 1,686.75 for a loss of -4.14 points or -0.24%.

The Turkish lira briefly dropped almost 20 percent against the dollar after US President Donald Trump tweeted that he has authorized the doubling of tariffs on steel and aluminum imports from Turkey.

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The New Jersey Department of Public Health reported that 284 mosquito pools in 20 counties have tested positive for WNV. People over age 50 and those with diabetes or hypertension are more likely to develop the most serious symptoms.

The biggest drag on the S&P 500 was Booking Holdings BKNG.O , which fell 5 percent after it forecast third-quarter profit below expectations.

"Problems in emerging markets are more important than ever because of the global growth engine that emerging markets have become", Peter Cecchini, chief market strategist at Cantor Fitzgerald in NY, wrote in a note. It was down 29.07 points, or 0.11 percent, at 25,554.68.

Intel, Micron, Applied Materials and ON Semiconductor fell between 0.1 percent and 3.4 percent. JPMorgan, Wells Fargo and Bank of America were all down about 1 percent.

Shares of trade-sensitive companies also declined, including Boeing, 3M and Caterpillar, which were all down at least 1 per cent.

Rite Aid fell 10.9 percent and was the most heavily traded stock after the drug store chain and US grocer Albertsons Cos agreed to terminate their merger agreement.

Meanwhile, newly announced US sanctions against Russian Federation added to the turmoil.

Advancing issues outnumbered decliners by a 1.80-to-1 ratio on the NYSE. That compares with the 6.4 billion-share daily average for the past 20 trading days, according to Thomson Reuters data.

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