Peter Nurse 

Investing.com — U.S. stock market opened mixed on Friday. The economically stable tech sector performed well after the news about another Covid-driven European lockdown weighed down sentiment. 

Austria had announced that it will reimpose its Covid-19 lockdown, making it the western Europe’s first to implement such harsh sanctions. Germany’s neighbor warned Austria it could follow its lead, raising concerns about another decline in global economic activity.

At 35,879 point, the index had dropped 200 points or 0.6% by 9:40 am ET (1440 GMT). The was also down 0.1%, but the  gained 0.4%, climbing to a new record high. 

Alphabet, Amazon.com and Microsoft stock rose Friday after investors sought safety for these financially sound companies. However, Apple (NASDAQ) fell following reports that it may soon launch its electric car.

The lockdown news also affected stocks that are linked to travel, such as Delta (NYSE;), United (NASDAQ) and American (NASDAQ) along with cruise operators Norwegian (NYSE) and Carnival (NYSE)). Oil firms were also hit hard by the lockdown news. Exxon Mobil (NYSE: Chevron (NYSE: ) declined 2.1% to 1.8% because of falling crude prices.

Elsewhere, Foot locker The stock of (NYSE:) slumped nearly 8% following a warning from the sports apparel retailer about supply issues heading into the busiest season of the year. Meanwhile, Workday (NASDAQ) stock fell 6% amid valuation worries over VNDLY’s proposal to purchase it for more than $500 million.

In the same spotlight will be the pharmaceutical sector after the U.S. Food and Drug Administration allowed booster doses Covid-19 vaccinations for adults who had been vaccinated. Moderna (NASDAQ: ) The shot and drug that was developed by Pfizer (NYSE:) And partner BioNTech.

On Friday, President Joe Biden’s social spending bill worth $1.75 billion will be up for debate in the U.S. House of Representatives. The Senate must approve the measure before Biden can sign it into law. 

Additionally, Federal Reserve policymakers Richard Clarida and Christopher Waller are due to speak Friday, with investors looking for signs of increased concern at the surging inflation levels in the economy, as this could point to a speeding up of the central bank’s tapering process.