Stocks are seeing continued weakness in afternoon trading on Friday, with the major averages stuck firmly in negative territory after showing an early downward move. Profit taking contributed to the initial weakness following recent strength in the markets.

With commodities prices moving mostly lower, resource stocks are turning in some of the market's worst performances. Software, real estate, and transportation stocks have also shown notable moves to the downside.

In recent trading, the Dow and the Nasdaq hit new lows for the session, although they have regained some ground since then. The Dow currently remains down 137.79 at 7,786.77, the Nasdaq is down 33.27 at 1,553.73 and the S&P 500 is down 13.72 at 819.14.

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