The Dow Jones Industrial Average rose 98.49 points, or 0.30 percent, to 33,171.37. The S&P 500 decreased 3.45 points, or 0.09 percent, to 3,971.09. The Nasdaq Composite Index was down 79.08 points, or 0.60 percent, to 13,059.65.
Six of the 11 primary S&P 500 sectors ended in red, with energy down 1.26 percent, leading the laggards. Utilities climbed 1.07 percent, the best-performing group.
U.S.-listed Chinese companies traded mostly lower with eight of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on a downbeat note.
The above market reactions came following reports that a large investment fund was forced into a fire sale of assets and defaulted on its margin calls, triggering concerns about ripple effects through the broader market.
For the week ending Friday, the Dow and the S&P 500 increased 1.4 percent and 1.6 percent, respectively, while the Nasdaq fell 0.6 percent, as volatility continued amid inflation fears.
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