The S&P 500 fell 0.3% while the Nasdaq 100 and Russell 2000 gave back 0.5% on Friday.
Health care was the best-performing S&P 500 sector ETF, and there was one big reason why:
UnitedHealth Group enjoyed its biggest daily gain since March 2020, soaring double digits after filings revealed Warren Buffett's Berkshire Hathaway bought the stock in the second quarter while David Tepper's Appaloosa Management added to its position in the beleaguered health care giant.
Tech, industrials, utilities, and consumer discretionary sectors all ended in the red.
Tesla fell amid fresh data showing its US EV sales were down 1% year-on-year in July.
Meanwhile, Chinese EV maker Nio surged after announcing that it's started delivering cars to customers in the Netherlands and Norway, its first foray into the continent's market.
Semi equipment maker Applied Materials got clobbered after issuing ugly guidance for the current quarter.
Hims & Hers dropped after Bloomberg reported that the FTC is investigating its business practices.
Joby Aviation initially got a big boost after announcing it completed its first US test flight between two airports, but gave all that up and then some as the achievement was apparently deemed insufficiently impressive by investors.
Roblox tanked after the Louisiana attorney general filed a lawsuit against the company, calling it "the perfect place for pedophiles."
SharpLink Gaming also tumbled after reporting a second-quarter loss.
Opendoor got a boost from the exodus of CEO and Chair Carrie Wheeler, who stepped down amid intense criticism from high-profile names within the shareholder base.
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