US equity indexes fell in midday trading Friday after a consumer sentiment gauge was revised lower while private sector output growth unexpectedly slowed.

The Nasdaq Composite fell 0.7% to 19,822.3, with the S&P 500 down 0.5% to 6,084.5 and the Dow Jones Industrial Average 0.8% lower at 43,811.3. Consumer discretionary and industrials led the decliners, while the consumer staples sector was among the trio of gainers intraday.

In economic news, the University of Michigan consumer sentiment index was revised downward on Friday to 64.7 for February from 67.8 in the preliminary estimate, compared with expectations for no revision in a survey compiled by Bloomberg. That latest print was below the upwardly revised final reading of 71.7 in January.

Output growth in the US private sector unexpectedly slowed in February as the services sector contracted, while optimism waned amid worries over the impact of tariffs and domestic spending cuts, S&P Global's (SPGI) flash purchasing managers' index showed. The composite output gauge fell to a 17-month low of 50.4 from 52.7 in January, compared with the 53.2 consensus in a survey compiled by Bloomberg.

US Treasury yields fell, with the 10-year down 3.9 basis points to 4.46% and the two-year was 2.1 basis points lower at 4.25%.

In company news, UnitedHealth Group (UNH) is under scrutiny by the US Department of Justice for allegedly encouraging doctors to record diagnoses that result in extra payments to the insurer's "Medicare Advantage" plans, the Wall Street Journal reported Friday, citing people familiar with the matter. Shares of the company slumped 8.9%, among the worst performers on the S&P 500.

Akamai Technologies (AKAM) has "limited" short-term growth opportunities, BofA Securities said in a note Friday, following the company's Q4 results overnight. BofA downgraded Akamai to neutral from buy and cut its price target to $100 from $125. Akamai shares sank 18% intraday, the steepest decliner on the S&P 500.

West Texas Intermediate crude oil futures slumped 2.1% to $70.99 a barrel.