NEW YORK, June 22 — A gauge of global stocks declined for a second straight session on Friday, weighed down by weakness in technology shares, while the dollar hit its highest level since early May as a gauge of US business activity edged up to a more than two-year high.

S&P Global said its flash US Composite PMI Output Index, which tracks the manufacturing and services sectors, inched up to 54.6 this month, the highest since April 2022, from a 54.5 reading in May. A reading above 50 indicates expansion.