The Nasdaq 100 index fell Friday as oil prices hit a fresh high and the broader market declined on concerns about Fannie Mae and Freddie Mac.
The index, which includes 100 of the largest nonfinancial securities listed on the Nasdaq Stock Market, declined 28.69 points, or 1.6 percent, to 1,810.88. The broader Nasdaq composite fell 18.77 points to 2,239.08.
Light, sweet crude for August delivery soared to an all-time high of $147.27 a barrel before pulling back slightly.
Shares of Infosys Technologies Ltd. shed $5.85, or 13.3 percent, to $38.14. The information technology company expects fiscal second-quarter profit between 55 cents and 56 cents per share, versus the 56 cents per share forecast by analysts polled by Thomson Financial.
Shares of United Airlines operator UAL Corp. ended the session down 54 cents, or 13 percent, at $3.63, after hitting a 52-week low of $3.47. The profitability of airline operators is closely linked to jet-fuel costs.
Shares of Baidu.com Inc. declined $24.23, or 7.4 percent, to $305.08.
On the rising side, shares of Wynn Resorts Ltd. jumped $8.20, or 11.7 percent, to $78.14. The casino resort operator expects higher operating profit at its Macau property and boosted its buyback program.
Shares of Steel Dynamics Inc. gained $1.30, or 3.9 percent, to $34.68 following an analyst upgrade.
Shares of Biogen Idec Inc. rose $1.26, or 2.1 percent, to $62.20.
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