*Banks among top drags on S&P. March 17- U. S. stocks were little changed on Friday as bank shares fell on lingering effects of the Federal Reserve’s less aggressive stance on future rate hikes, while a jump in Adobe lifted the technology…
* Banks among top drags on S&P
* Financial sector set for worst day in two weeks
* Adobe up on strong quarterly earnings
* Dow flat, S&P up 0.01 pct, Nasdaq up 0.04 pct
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March 17 (Reuters) – U. S. stocks were little changed on Friday as bank shares fell on lingering effects of the Federal Reserve’s less aggressive stance on future rate hikes, while a jump in Adobe lifted the technology sector.
The S&P 500 financial sector was off 0.82 percent, led by losses in big banks including Wells Fargo and Bank of America.
The index has outperformed in a post-election rally on bets of simpler regulations and on heightened expectations of higher interest rates.
The rally lost some steam after the Fed on Wednesday stuck to its outlook for a gradual tightening in policy following a widely expected quarter point rate hike.
