What you need to know before buying stock

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The S&P 500 and Nasdaq Composite both fell on Friday to close out a volatile week of trading.

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The S&P 500 ended the day down 0.6%, or 18.68 points, while the Nasdaq Composite closed 0.8%

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Or 70.06 points lower. For the week, the S&P 500 lost 2.2% and the Nasdaq declined 2.7%.

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The Friday sell-off was led by technology stocks, which have been under pressure all week amid concerns about valuations and stretched valuations. 

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The tech-heavy Nasdaq has now fallen for four straight days.

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"I think people are just taking some money off the table here," said Randy Frederick, vice president of trading and derivatives for Charles Schwab. 

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"There's been a lot of froth in the market and I think we're starting to see some of that come out."

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The market weakness comes after a strong start to the year. 

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The S&P 500 is up nearly 7% in 2017, while the Nasdaq has gained 9%.

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Despite the recent pullback, Frederick said he still sees positive momentum in the market.

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"I don't think this is the beginning of a big sell-off," he said. "I think we're just going to see more volatility in the near term."

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