© Reuters. The U.S. flag is seen on a building on Wall St. in the financial district in New York

(Reuters) – U.S. stocks lost momentum on Friday with the easing from record levels as losses in financials and industrials intensified after surging this week on hopes for further economic aid under a Democrat-controlled Congress.

The tech-heavy Nasdaq, however, climbed on a boost from sharp gains in Tesla (NASDAQ:) Inc and Baidu Inc (NASDAQ:).

At 01:32 p.m. ET the fell 172.61 points, or 0.54%, to 30,868.52, the S&P 500 lost 7.19 points, or 0.19%, to 3,796.60, and the gained 27.47 points, or 0.21%, to 13,094.97.

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