The Nasdaq briefly turned positive on Friday while the Dow and S&P 500 tumbled, as gains in tech shares including Apple and Qualcomm offset a slide in financial stocks.

The Dow Jones industrial average <.DJI> dropped 95.49 points, or 1.33 percent, to 7,086.59. The Standard & Poor's 500 Index <.SPX> fell 12.71 points, or 1.69 percent, to 740.12. The Nasdaq Composite Index <.IXIC> shed 5.55 points, or 0.40 percent, to 1,385.92.

(Reporting by Chuck Mikolajczak)