The major domestic equity indexes all closed out the trading day on Friday in negative territory as a deepening economic crisis in Turkey dragged on bank shares and triggered a move out of riskier assets.

The Dow Jones Industrial Average and S&P 500 indexes posted declines for the week following five straight weeks of gains. Nonetheless, the S&P 500 remains just 1.4 percent below its record high from Jan. 26.

A decline in technology shares added to the day’s bearish tone. The S&P technology index fell 0.8 percent, with Intel down 2.6 percent after Goldman Sachs downgraded the stock to “sell.”

Microchip Technology fell 10.9 percent after a disappointing second-quarter revenue forecast.

A slump in the Turkish lira worsened after U.S. President Donald Trump doubled tariffs on steel and aluminum imported from the country.

For the week, the Dow fell 0.6 percent and the S&P 500 was down 0.3 percent. The Nasdaq gained 0.3 percent for the week after strong gains in some technology shares.

Citigroup, the most global of the major banks, fell 2.4 percent. JPMorgan, Wells Fargo and Bank of America were also lower.

Shares of trade-sensitive companies also declined, including Boeing, 3M and Caterpillar, which were all down at least 1 percent.

Tesla’s shares ended up 0.9 percent. The number of Tesla shares sold short rebounded and are now higher than before Chief Executive Elon Musk on Tuesday proposed taking the electric car maker private, according to data from financial technology and analytics firm S3 Partners.

Data on Friday indicated that consumer prices rose in July and the underlying trend continued to strengthen, pointing to a steady increase in inflation pressures.

Approximately 6.7 billion shares changed hands on the major domestic equity exchanges, as compared to the 6.4 billion-share daily average for the past 20 trading days, according to Thomson Reuters data.

Core Inflation Rises

Consumer prices rose in July and the underlying trend continued to strengthen, pointing to a steady increase in inflation pressures that keeps the Federal Reserve on track to gradually raise interest rates.

According to a report by the Labor Department on Friday Morning, its Consumer Price Index (CPI) advanced 0.2 percent, the bulk of which was due to a rise in the cost of shelter. The CPI rose 0.1 percent in June.

In the 12 months through July, the CPI increased 2.9 percent, matching the increase in June.

If you exclude the volatile food and energy components, the so-called core CPI rose 0.2 percent, the same gain as in May and June. The annual increase in the so-called core CPI was 2.4 percent, the largest rise since September 2008, from 2.3 percent in June.

The Fed more closely tracks a different inflation measure, the personal consumption expenditures (PCE) price index excluding food and energy, which increased 1.9 percent in June.

That gauge hit the Fed’s 2 percent target in March for the first time in more than six years and Fed policymakers have said they will not be unduly concerned if it overshoots its target in the coming months.

The Fed currently forecasts a total of four rate rises in 2018, while financial markets overwhelmingly expect a hike at the next policy meeting in September.

Inflation pressures are seen continuing to build amid low unemployment and increasing difficulty reported by employers in filling positions. Rising raw material costs are also expected to push up inflation as manufacturers pay more, in part because of tariffs imposed by the Trump administration on lumber, aluminum and steel imports.

Last month, gasoline prices fell 0.6 percent after increasing 0.5 percent in June. Food prices edged up 0.1 percent after rising 0.2 percent in June.

Owners’ equivalent rent of primary residence, which is what a homeowner would pay to rent or receive from renting a home, advanced 0.3 percent last month after increasing by the same margin in June. Overall, the so-called shelter index rose 3.5 percent in the 12 months through July.

Healthcare costs fell 0.2 percent after gaining 0.4 percent in June. Prices for new motor vehicles rose 0.3 percent in July following a 0.4 percent increase in the prior month. Apparel prices fell 0.3 percent after declining 0.9 percent in June.