Investing.com -- U.S. stocks fell broadly on Friday, amid a wavering dollar and mounting fears of a Greek default on its sovereign debt one day after the collapse of high-level talks with the IMF.
The Dow Jones Industrial Average fell more than 100 points erasing most of the gains from Wednesday's session when soared it more than 1%. The NASDAQ Composite index and the S&P Composite index also fell more than 0.5% on a bearish day for stocks. Bolstered by Wednesday's gains, the Dow had been on pace for one of its best weeks over the last several months until Friday's sell-off when it fell 140.53 or 0.78% to 17,898.84. The NASDAQ also closed the week on a down note, dipping 31.41 or 0.62% to 5,051.10.
The S&P 500, meanwhile, lost 14.75 or 0.70% to 2,094.11, as all 10 sectors closed in the red. Stocks in the Energy and Health Care sectors lagged, plummeting by more than 1%.
U.S. stocks were relatively unchanged after President Barack Obama's trade deal stalled in the House of Representatives on Friday afternoon. In a 302-126 vote the House defeated a Trade Adjustment Assistance bill that was connected to the president's main agenda item, a bill that would give the president "fast-track authority," to negotiate trade deals. Rep. John Boehner (R, Ohio) requested for a re-vote on the bill for next Tuesday. While the house did approve the fast-track legislation, passing the so-called Trade Promotion Authority bill by a vote of 219-211, both parts needed to be passed for the bill to go to the president.
The top performer on the Dow was Nike Inc (NYSE:NKE), which lost 0.1 or 0.1% to 103.78. All 30 components on the Dow closed in the red on Friday. The worst performer was Merck & Company Inc (NYSE:MRK), which fell 1.04 or 1.77% to 57.87.
The biggest gainer on the NASDAQ was Citrix Systems Inc (NASDAQ:CTXS), which rose 1.57 or 2.23% to 71.96. Earlier this week, activist investors from Elliott Management said Citrix shares can reach $90 if the company imposes some of the changes that the private equity firm has recommended. The worst performer was Ross Stores Inc (NASDAQ:ROST), which closed at $48.55 as its Board of Directors executed a 2-for-1 stock split approved in March. Ross finished just below NVIDIA Corporation (NASDAQ:NVDA), which lost 0.59 or 2.72% to 21.11.
Twitter Inc (NYSE:TWTR) inched up 0.04 or 0.11% to 35.88, one day after CEO Dick Costolo announced that he will step down later next month. Costolo will be replaced by Twitter co-founder Jack Dorsey on an interim basis. Eli Lilly and Company (NYSE:LLY) shares fell 2.37 or 2.74% to 84.22, one day after soaring to a 14-year high amid positive data related to its experimental Alzheimer's drug Solanezumaban. Shares in the pharmaceutical giant are still up more than 25% this year.
Citrix Systems was also the top performer on the S&P 500, ahead of American Airlines Group (MX:AAL) which gained 0.69 or 1.71% to 40.71. Ross Stores also finished as the worst performer on the S&P 500, just below CONSOL Energy Inc (NYSE:CNX), which fell 1.08 or 4.10% to 25.26.
Shares in fast-food restaurant Wingstop soared roughly 60% to $30.59, after debuting with an IPO on Friday of $19 a share.