At the close, the broad S&P 500 index declined 1.2 percent, the Dow Jones Industrial Average fell 1.1 percent, and the Nasdaq Composite index fell 1.5 percent.
In the tech sector, many investors took the opportunity to take profits after several big players had grown significantly recently. Semiconductor giant Nvidia fell about 4 percent, Intel fell just over 6 percent, while Cerebras, a challenger to Nvidia that saw its shares surge when it was introduced on Thursday, fell about 10 percent.
Earlier on Friday, U.S. President Donald Trump concluded his state visit to China. Despite several meetings with China's leader, Xi Jinping, the trip did not yield the kind of breakthroughs the stock market had hoped for.
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