The Dow Jones industrial average fell 22.90 to 5,654.63 after holding a small gain until early afternoon.
Advancing issues outnumbered decliners by nearly 5-to-2 on the New York Stock Exchange, with 1,820 up, 743 down and 624 unchanged.
NYSE volume totaled 462.11 million shares vs. 405.21 million in the previous session.
Broad-market indicators remained positive, led by another rally in depressed computer-related stocks. The NYSE composite rose 1.62 to 359.20, and the S&P 500-stock index rose 2.08 to 670.63.
The Nasdaq composite gained 15.96 to 1,181.97, and the American Stock Exchange's market value index advanced 6.66 to 576.79.
Bonds rose on Friday, and the yield on the 30-year Treasury bond - a key determinant of corporate and consumer borrowing costs - fell below 6.90 percent, down from late Thursday's 6.99 percent. Two weeks ago, the yield surged to nearly 7.20 percent amid growing fears of higher inflation.
In other economic news, the Commerce Department reported on Friday that the nation's economy was growing at a moderate 2.2 percent annual rate as winter ended and recent signs suggest it picked up steam as summer approached. The revised advance in the January-March gross domestic product was down from the 2.3 percent gain reported a month ago and 2.8 percent estimated in April.