U.S. stocks extended losses on Friday, with the S&P 500 briefly down more than 2 percent after Goldman Sachs was charged with fraud by the U.S.

regulators and company earnings disappointed investors.

The Dow Jones industrial average <.DJI> dropped 150.47 points, or 1.35 percent, to 10,994.10. The Standard & Poor's 500 Index <.SPX> fell 22.83 points, or 1.88 percent, to 1,188.84. The Nasdaq Composite Index <.IXIC> lost 43.06 points, or 1.71 percent, to 2,472.63.

Goldman shares fell more than 12 percent at $161.38 after hitting a session low of more than 15 percent. The KBW bank index <.BKX> dropped 4.3 percent.

(Editing by Kenneth Barry)