U.S. stocks were falling again on Friday as the Dow Jones industrial average headed for its worst week since October 2008. The Dow fell as much as 350 points — or 1.1 percent — around 12:15 p.m. ET, bringing its weekly loss to 7.7 percent. The S&P 500 dropped 1 percent to its lowest level since October while the Nasdaq composite fell as much as 1.25 percent, joining the Dow and S&P 500 in correction territory.
“We’re seeing a lot of buying support early, but I think the key thing will be the final hour of the day,” said JJ Kinahan, chief market strategist at TD Ameritrade. “It’s been such a volatile week that people’s risk tolerance is lower.” The Dow dropped 1,032 points Thursday, its second drop of that magnitude this week. The recent turmoil in equities began last Friday, when the Dow fell 666 points after a better-than-expected jobs report ignited inflation fears. READ MORE
