The Dow Jones Industrial Average fell sharply Friday morning, extending losses from Thursday's stock market sell-off. Earnings season heated up with quarterly results from financial giants Citigroup , JPMorgan Chase (JPM) and Wells Fargo (WFC) Apple (AAPL) fell 0.4% Friday, while Microsoft (MSFT) was down 0.1%.

Stocks to watch: Applied Materials (AMAT), Mosaic (MOS), SVB Financial (SVB) and Taiwan Semiconductor Manufacturing (TSM) Chinese EV leaders Li Auto (LI) and XPEV (XPEV) were higher.

After the stock market open Friday, the Dow Jones Industrial Average moved down 0.95%. The S&P 500 dropped 0.6%. And the tech-heavy Nasdaq composite declined 0.4%. The 10-year Treasury yield ticked higher, near 1.74% Friday morning.

The Nasdaq more than erased all of the prior two days of gains, leaving it back near its 200-day moving average. Meanwhile, the S&P 500 gave up its 50-day support level. The Big Picture commented: "Don't entirely give up on the market rally yet"
Posted by BI bizpoke
Tap to Copy the Short Url to This Post: 
One-Stop Business News backed by Mark Cuban. Free to Use →