Stocks recovered much of an early swoon and ended moderately lower as a midnight deadline approached for the U.S. and China to reach a trade deal.
Negotiators met in Washington Thursday. If they don't reach a deal, the U.S. has said it would raise its tariffs on $200 billion worth of Chinese goods as of 12:01 a.m. Friday.
Technology companies fell the most. Intel lost 5.3%.
The S&P 500 fell 8 points, or 0.3%, to 2,870. The index is headed for its biggest weekly loss of the year, and has given back all of the gains it made in April.
The Dow Jones Industrial Average lost 138 points, or 0.5%, to 25,828. It was down almost 450 points earlier.
The Nasdaq fell 32 points, or 0.4%, to 7,910.
Meanwhile, Uber is about to embark on a wild ride on Wall Street with the biggest and most hotly debated IPO in years.
The world's leading ride-hailing service set the stage for its long-awaited arrival on the stock market by pricing its initial public offering at $45 per share Thursday.
The price is at the lower end of its targeted range of $44 to $50 per share. The pricing may have been driven by the escalating doubts about Uber's ability to make money since its main rival, Lyft, went public six weeks ago and continues to see its stock drop.
Even at the tamped-down price, Uber now has a market value of $82 billion - significantly more than century-old automakers General Motors and Ford Motor.
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