Stocks fell on Wall Street and are on track for their first weekly loss in the last four. Markets are reacting to the latest quarterly reports from U.S. companies.
Stocks fell in morning trading on Wall Street Friday and are on track for their first weekly loss in the last four.
The S&P 500 fell 0.7% in the morning trading. The Dow Jones Industrial Average fell 130 points, or 0.3%, as of 10:25 a.m. Eastern time. The Nasdaq composite fell 1%.
The market was weighed down by technology stocks, especially several big names with huge valuations that give them outsized influence over the direction of the market. Overall, there were more gainers than losers within the S&P 500, but the index was dragged down by a 2.6% drop for Nvidia and a 1.8% drop for Broadcom, among others big names losing ground.
Wall Street remained focused on the latest quarterly reports and forecasts from U.S. companies.
Payments company Block, which operates the Square and Cash App businesses, sank 9.8% after turning in results that fell short of forecasts. Exercise equipment maker Peloton jumped 6.1% after its results beat estimates.
