Stocks closed lower on Wall Street Friday, giving up their gains for the week, after Amazon and other big companies laid out how the coronavirus pandemic is hitting their bottom lines.
The sell-off handed the S&P 500 its second-straight weekly loss a day after the benchmark index closed out its best month since 1987.
Technology stocks and companies that rely on consumer spending accounted for a big slice of the decline. Energy stocks took the heaviest losses. Bond yields held steady and the price of oil rose slightly.
The S&P 500 index fell 81.72 points, or 2.8%, to 2,830.71.
The Dow Jones Industrial Average slid 622.03 points, or 2.6%, to 23,723.69.
The Nasdaq dropped 284.60 points, or 3.2%, to 8,604.95.
The Russell 2000 index of smaller company stocks gave up 50.18 points, or 3.8%, to 1,260.48.
For the week:
The S&P 500 dropped 6.03 points, or 0.2%.
The Dow lost 51.58 points, or 0.2%.
The Nasdaq fell 29.57 points, or 0.3%
The Russell 2000 gained 27.43 points, or 2.2%.
For the year:
The S&P 500 is down 400.07 points, or 12.4%.
The Dow is down 4,814.75 points, or 16.9%.
The Nasdaq is down 367.66 points, or 4.1%
The Russell 2000 is down 407.99 points, or 24.5%.