US benchmark equity indexes were lower intraday after President Donald Trump's meeting with his Ukrainian counterpart, Volodymyr Zelenskyy, ended after a heated argument between the two sides.

The Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite were down 0.1% each after midday Friday. The Dow reached 43,223.7, while the S&P 500 was at 5,855.9. The Nasdaq stood at 18,480.7. Among sectors, technology and health care saw the biggest drops, while energy paced the gainers.

Zelenskyy left the White House Friday after talks with Trump collapsed, CNBC reported. The US wants access to Ukraine's rare earth minerals as part of a broader effort to end the conflict between Ukraine and Russia.

"Much was learned that could never be understood without conversation under such fire and pressure," Trump said in a Truth Social post. "I have determined that President Zelenskyy is not ready for peace if America is involved, because he feels our involvement gives him a big advantage in negotiations."

Trump said Zelenskyy can "come back when he is ready for peace."

US Treasury yields deteriorated, with the two-year sinking 8.5 basis points to 4% and the 10-year rate dropping 6.2 basis points to 4.23%.

In economic news, US personal consumption expenditures decreased 0.2% in January following a 0.8% gain the month before, the Bureau of Economic Analysis said. A Bloomberg-polled consensus called for a slowdown in spending growth to 0.2%.

The Federal Reserve's preferred core measure, which excludes food and energy, decelerated to 2.6% in January from 2.9% the month before. Sequentially, the core measure accelerated to a 0.3% gain. Both figures were in line with analysts' expectations.

"Broadly speaking, US households remain in good financial shape, supported by a still-healthy labor market and a significant wealth cushion," TD Economics said. "As long as this remains the case, we expect real consumer spending to stay resilient this year, with growth moderating to around 2%."

In company news, NetApp (NTAP) saw the steepest decline on the S&P 500, down 17%. The company late Thursday lowered its fiscal 2025 outlook.

Dell Technologies (DELL) shares sank 6.2% intraday Friday. The computer maker late Thursday logged stronger-than-expected fiscal fourth-quarter earnings, though its revenue fell short of Wall Street's estimates.

AES (AES) shares were up nearly 11% intraday Friday, the best performer on the S&P 500, as the company outlined an upbeat full-year earnings outlook following a quarterly beat.

Monster Beverage (MNST) was among the top gainers on the S&P 500, up 4.6%. The energy drink company late Thursday posted fourth-quarter sales above market expectations, driven by higher prices and growing demand in the US.

West Texas Intermediate crude oil was down 0.2% at $70.19 a barrel intraday.

Gold slid 1.5% to $2,852.10 per troy ounce, while silver lost 1.8% to $31.54 per ounce.