After showing a steep decline at the open, stocks have seen continued weakness over the course of the first half-hour of trading on Friday. While the major averages have not seen much follow-through on their initial downward move, they have remained firmly negative.
While weakness remains visible in a variety of sectors, selling pressure has remained relatively subdued, limiting the downside for the markets. The major averages currently remain poised to turn in another strong performance for the week.
Nonetheless, real estate stocks are seeing considerable weakness, dragging the Morgan Stanley REIT Index down 3.6 percent. Oil service, software, natural gas, and networking stocks are also under significant selling pressure.
The major averages have moved well off their lows for the session in recent trading, although they currently continue to post notable losses. The Dow is currently down 101.55 at 7,823.01, the Nasdaq is down 24.72 at 1,562.28 and the S&P 500 is down 11.46 at 821.40.
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