Wall Street stumbled on Friday as aggressive monetary signals from the Jackson Hole symposium dampened market enthusiasm, pulling major benchmark indices into negative territory.

Hawkish remarks by former Federal Reserve governor Kevin Warsh reignited concerns over persistent interest rates. The cautious tone swiftly overshadowed strong intraday momentum previously led by the tech sector's high-flying 'Magnificent Seven.'

Trading desks faced heightened volatility as investors recalibrated their rate expectations ahead of crucial central bank policy decisions.