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Wall Street stocks stumbled on Friday as shares of major companies fell near the end of a holiday week.

The Dow Jones Industrial Average fell 0.8 percent to 42,992.21, while the broad-based S&P 500 slipped 1.1 percent to 5,970.84.

The tech-heavy Nasdaq Composite Index fell 1.5 percent to 19,722.03.

Steve Sosnick of Interactive Brokers said the selloff surprised many people.

“I think a lot of people were very complacent about the idea that we were going to have a Santa Claus rally,” he added.

He was referring to the trend of markets performing well in the last five trading days of the year and the first two of the new year.

“Sales are happening across the board. There is no obvious trigger for this today,” Sosnick said, noting that the trend is more severe because volumes are low.

Large companies in particular suffered price losses; Microsoft lost 1.7 percent.

Amazon lost 1.4 percent, while Nvidia lost 2.0 percent.

Spartan Capital’s Peter Cardillo said the drop was both a “year-end adjustment” and due to a rise in U.S. Treasury yields.

“That means putting on the brakes, slowing down the market,” he said.

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