S&P 500, Dow end lower with energy, financials; Tesla falls

Dow Jones Industrial Average fall on weak energy stocks

Turkey turmoil rattles Wall Street, banks take a knock

The geopolitical turmoil in Turkey is certainly making waves across the global economies, particularly in the United States where the Dow Jones Industrial Average fell over 200 points today.

"There is low volatility in the markets as the S&P and Nasdaq are just below all-time record highs, and it seems like markets are complacent right now", said Tom White, chief market strategist at TradeWise Advisors, in Chicago, Illinois.

Leading sector declines was the S&P energy index .SPNY , which fell 0.9 percent.

Dropbox fell 6.2 percent despite a better-than-expected quarterly report.

Of the 440 companies in the S&P 500 that have reported so far, 78.6 percent have beaten analysts' expectations, according to Thomson Reuters.

"We have been in a tug of war between broadly positive economic conditions and the uncertainty of trade risk", said Bill Northey, senior vice president at U.S. Bank Wealth Management in Helena, Montana.

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He has been their best player in recent years and the team needs him now, more than ever with a new manager in charge. I saw our spirit, togetherness and good attitude today, which is what we will need to be competitive this season.

On the other hand, boosted by upbeat earnings from Motorola and T-mobile earlier this week, the S&P 500 Telecom Service Sector extended its upside and closed with a 1% gain.

The energy sector was the biggest loser, dragged down by Occidental Petroleum, the largest Permian producer, which boosted its capital expenditure. The Nasdaq gained 0.3 per cent for the week after strong gains in some technology shares. Tribune shares rose 2.2 percent. Tribune shares rose 2.9 percent.

The technology sector has been at the center of a sharp recovery in US stocks since a market rout in February.

Chip stocks fell after Morgan Stanley downgraded the US semiconductor industry, saying upside to estimates is hard to come by. Micron also fell 1.8 percent.

Meanwhile, concerns over escalating trade conflict between the USA and China weighed on the trade-sensitive S&P 500 Industrials Index, which ended up losing 0.57% on the day.

Declining issues outnumbered advancing ones on the NYSE by a 1.04-to-1 ratio; on Nasdaq, a 1.10-to-1 ratio favoured advancers.

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