U.S. stocks retreat on Friday

U.S. stocks retreated for the second straight day on Friday amid worry of an economic recession.

In the closing trading, the Dow Jones Industrial Average dropped 25.13, or 0.22 percent, at 11,508.10. The Standard & Poor's 500 index was down 3.25, or 0.25 percent, to 1,314.78 and the Nasdaq composite index fell 18.82, or 0.84 percent, to 2,218.93.

On the data front, the Philadelphia Fed said Thursday its index of current activity fell from 18.5 in August to negative 0.4 this month.

Indicators for general activity, new orders and shipments fell substantially from August and suggested no growth for September. The negative data kindled investor's worry of an economic recession.

On company news, Dow industrials component Hewlett-Packard said late-Thursday that its chief executive, Mike Hurd, will testify before Congress on the company's "pretexting" scandal.

H-P also disclosed that the U.S. Securities and Exchange Commission has requested records and information related to the resignation of a board member.

Source: Xinhua