The Dow Jones industrial average was down 0.5%, the Standard & Poor's 500 index off 0.4% and Nasdaq composite was 0.1% lower in afternoon trading.
On Thursday, the Dow advanced 0.4% to 15,328.30 while the S&P 500 index rose 0.4% to close at 1,698.67. The Nasdaq climbed 0.7% to 3,787.43.
CONSUMER SPENDING: Rises 0.3%
THURSDAY: Stocks snap 5-day losing streak
SHUTDOWN: Economy would feel it
"People are cautious as we enter the last quarter and no point in taking a position with so many macro issues overhanging the market" such as a battle over the U.S. debt limit looming in October, said Andrew Sullivan, director of Asian sales trading at Kim Eng Securities.
Benchmark oil for November delivery fell 57 cents to $103.60 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 37 cents to settle at $103.03 on Thursday.
Asian stocks drifted on Friday.
Japan's Nikkei 225 dipped 0.4% to 14,765.29 after the country's consumer price inflation rose at the fastest rate in five years.
Regional bourses in Europe declined.
Later Friday, the U.S. Commerce Department will release data on personal income and spending for August.
Contributing: Associated Press
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