Stocks fell on Friday despite a stronger-than-expected jobs report as worrisome developments in Ukraine weighed on sentiment.
The Dow Jones Industrial Average dropped 390 points, or about 1.2%. The S&P 500 also declined 1%, while Nasdaq Composite moved down 0.7%. The Dow was on track for its fourth straight losing week.
Earnings reports drove some positive moves for stocks.Retailer Gap and restaurant chain Sweetgreen both surged after beating expectations. Chipmaker Broadcom rose after outpacing estimates for earnings and revenue.
Sea shares fell more than 4% after JP Morgan lowered its price target from $250 to $105.
Ocugen Inc. said Friday that the U.S. Food and Drug Administration has declined to issue an Emergency Use Authorization for Covaxin.Ocugen shares tumbled 20%.
Comments