U.S. stocks on Friday were lower, as the euphoria sparked by the Federal Reserve's bumper interest rate cut earlier in the week cooled off. A post-earnings plunge in global economic bellwether FedEx (FDX) weighed on sentiment.

Technology stocks weighed on the S&P 500 and the Nasdaq on Monday as caution set in ahead of the Federal Reserve's pivotal monetary policy decision, due later in the week, with a majority of traders pricing in a steep reduction in borrowing costs.

Thursday saw Wall Street soar to all-time highs as a delayed celebration engulfed global markets in the wake of the Federal Reserve's significant interest rate cut.On one of the best days of the year,