While stocks did not seen much follow-through on their early downward move for much of the trading session on Friday, the major averages have seen some further downside in recent trading, pulling back to new lows for the session.

The move to the downside is partly due to renewed weakness among banking stocks, which have come under pressure after the CEOs of some of the nation's largest banks began to speak after concluding their meeting with President Obama.

Significant weakness also remains visible in a variety of other sectors, with oil service, natural gas, real estate, and software stocks turning in some of the worst performances.

The major averages have continued lower in the past few minutes, moving more firmly into negative territory. The Dow is currently down 180.08 at 7,744.48, the Nasdaq is down 40.51 at 1,546.49 and the S&P 500 is down 18.47 at 814.39.

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