Wall St hit by tech, oil weakness; bank stocks gain on higher bond yields

US stock indexes fell on Friday, with Apple leading declines in the technology sector and as energy companies took a hit from lower oil prices after President Donald Trump's criticism on OPEC.

Apple fell 3.4 per cent and was the biggest drag on the major indexes. Morgan Stanley estimated weak demand for its latest iPhones, adding to fears raised by Taiwan Semiconductor of softer smartphone sales.

Oil prices were down about half a per cent after Trump criticized OPEC for output reductions that have helped raise oil prices and said the action would not be tolerated.

The S&P energy index fell 1 per cent, while the technology index was weak for the third session in a row, dropping 1.4 per cent.

Schlumberger dropped 1.5 per cent after the oilfield services provider's profit just scraped past estimates. Rival Halliburton fell 0.3 per cent.