Stocks stumbled on Friday as techs lost their winning ways, with investors looking for inspiration in the big bank results rolling in to kick off earnings season. The tech-heavy Nasdaq Composite slid 0.9%, while the S&P 500 shed 0.7%. The Dow Jones Industrial Average fell 0.6%, or more than 200 points. Stocks are falling after "Magnificent 7" tech names led a run higher on Thursday, propelled again by AI tailwinds.
BlackRock results got earnings season underway early Friday amid hopes that corporate updates can revive the early-year rally in stocks. Shares of the world's biggest asset manager popped in morning trading after the company posted a 36% jump in profit. Investors are watching for the giant banks to demonstrate how they benefit if interest rates remain higher than expected this year.
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