U.S. Stocks Tumble as Traders Digest Bank Earnings and Weigh Inflation Concerns

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Friday's key moments. U.S. stocks tumbled on Friday as traders digested bank earnings and weighed inflation concerns. This follows a series of volatile trading sessions for the market, with the S & P 500 and the Dow on track for a weekly decline. The Nasdaq , after Thursday's surge, was on the bubble.

Coming into the print, a pick-up in IPOs has been a positive sign for the firm's investment banking business. But the focal point of recent quarters has been lackluster wealth management revenues, margins, and net new assets. We think new CEO Ted Pick needs to right the ship, fast. The Club was also disappointed by media reports that multiple federal regulators are probing Morgan Stanley's Wealth Management business.

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