The broad S&P 500 index fell 1.1 percent, the Dow Jones industrial index dropped 0.8 percent, while the technology-heavy Nasdaq composite index closed at minus 1.5 percent.
All seven major technology companies, often referred to as "the magnificent seven", fell. Chip giant Nvidia dropped 2.0 percent, Microsoft 1.7 percent, and iPhone manufacturer Apple 1.3 percent. The worst performer was electric car manufacturer Tesla, which continued its decline from Thursday and fell 5.0 percent.
Even semiconductor company Broadcom, which had risen about 50 percent over the past month following a strong quarterly report, lost ground. The stock fell 1.5 percent.
However, some investors are still hoping for what is called the "Santa Claus rally", which refers to the stock market's tendency to rise during the last five trading days of the year and the first two in January.
Over the week as a whole, the S&P 500 rose 0.7 percent, the Dow Jones climbed 0.4 percent, and the Nasdaq rose 0.8 percent, according to the AP news agency.
