NEW YORK (CNNMoney.com) -- Technology stocks led the broader market lower Friday, with investors pulling back following Dell's profit warning and a spate of negative news from the influential chip sector.

The tech-heavy Nasdaq composite (down 19.03 to 2,020.39, Charts) closed down about 0.9 percent, hitting a 14-month low.

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The Dow Jones Industrial average (down 59.72 to 10,868.38, Charts) lost around 0.6 percent, and the broader Standard & Poor's 500 (down 8.84 to 1,240.29, Charts) finished around 0.7 percent lower.

Oil closed slightly higher, bonds slipped and the dollar fell.

For the week the the Dow ended 1.3 percent higher, while the Nasdaq lost 0.8 percent and the S&P ended up 0.3 percent.

Investors will look forward to a slew of corporate earnings news next week, including Dow components Merck (Charts) and American Express (Charts) before the bell Monday.

Economic numbers on tap for next week include consumer confidence, home sales and the advance reading on second quarter gross domestic product, although none are due Monday.

Here's what moved markets Friday:

The major gauges had been negative from the get-go on the tech turmoil, building on Thursday's sell-off, which was sparked by disappointment about Intel's quarterly results.

Microsoft's earnings and stock buyback news boosted that stock Friday but did little to help the broader market.

"Techs have been leading the charge down over the last week, and it's been ugly," said Joseph Saluzzi, co-head of equity trading at Themis Trading. "The semiconductors are down today and that's a drag, and you've got Dell not helping."

Dell (down $2.19 to $19.91, Charts), the personal computer maker, tumbled 10 percent after warning that quarterly results will miss forecasts owing to its aggressive price-cutting campaign.

Rival Hewlett-Packard (down $1.28 to $30.52, Charts) slipped more than 4 percent in sympathy.

The broader computer hardware sector was hit hard by the warning as well. The Goldman Sachs Hardware (Charts) index lost 3.5 percent.

Semiconductors were under pressure, too.

Advanced Micro Devices (down $3.39 to $18.26, Charts) tumbled over 15 percent after it reported higher quarterly earnings late Thursday that were short of analysts' estimates.

The No. 2 chipmaker also reported quarterly sales that slipped from a year ago and missed forecasts, due to slower demand and its ongoing price war with larger rival Intel (up $0.05 to $17.15, Charts). Intel shares inched higher.

Chipmaker Broadcom (down $3.24 to $23.11, Charts) tumbled 12 percent after warning that third- and fourth-quarter revenue will miss analysts' estimates because of slowing sales and rising inventories.

And chipmaker PMC Sierra (down $1.84 to $5.14, Charts) slumped 26 percent after warning late Thursday that current-quarter revenue will miss expectations.

The Philadelphia Semiconductor (down 19.25 to 384.88, Charts) index, or SOX, lost close to 5 percent.

Google (up $2.99 to $390.11, Charts) reported sharply higher quarterly earnings and revenue late Thursday that topped analysts' estimates. Shares initially sold off on the news before bouncing back. Google stock has been under pressure in 2006 after surging 115 percent in 2005.

On the upside, Microsoft (up $1.02 to $23.87, Charts) rose 4.5 percent after the company posted results Thursday that topped expectations, issued a bullish 2007 forecast and announced a $40 billion share buyback plan.

U.S. light crude oil for September delivery rose 23 cents to close at $74.50 a barrel on the New York Mercantile Exchange. Prices have seesawed this week after hitting a record trading high of $78.40 a barrel last Friday.

Airlines and other transportation stocks slumped again in response to high energy prices, sending the Dow Jones Transportation Average (down 33.99 to 4,456.29, Charts) down 0.8 percent Friday.

The decline was led by air carrier Continental Airlines (down $1.20 to $28.00, Charts) and freight company Expeditors International (down $3.03 to $45.30, Charts).

Market breadth was negative. On the New York Stock Exchange, losers topped winners by more than 2 to 1 as 1.9 billion shares changed hands. On the Nasdaq, decliners beat advancers 3 to 1 as 2.4 billion shares changed hands.

Treasury prices wilted, giving back earlier gains. The decline set the yield on the benchmark 10-year note at 5.04 percent, up from 5.02 percent late Thursday. Treasury prices and yields move in opposite directions.

The dollar slumped against the yen and the euro.

COMEX gold for August delivery fell $12.30 to close at $620.00 an ounce.

Dell tumbles on warning

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