Stocks showed a notable move to the downside at the start of trading on Friday, with the major averages giving back some ground after ending the previous session at their best closing levels in over a month. Profit taking contributed to the initial weakness in the markets.
After trending higher in recent sessions, financial stocks are helping to lead the way lower in early trading. Energy stocks are also seeing considerable weakness amid a notable decrease in the price of oil.
Most of the other major sectors have also moved to the downside following the broad based strength that was seen on Thursday. Some software, airline, and networking stocks are posting notable losses.
In the past few minutes, the major averages have edged up off their lows for the young session, although they remain firmly negative. The Dow is currently down 117.08 at 7,807.48, the Nasdaq is down 28.92 at 1,558.08 and the S&P 500 is down 14.15 at 818.71.
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