After pulling back sharply early in the session, stocks have seen further downside over the course of the trading day on Friday. With the steep losses on the day, the major averages have more than offset the upward move seen over the two previous sessions.
Currently, the major averages are lingering near their worst levels of the day. The Dow is down 659.42 points or 2 percent at 32,632.36, the Nasdaq is down 358.60 points or 2.8 percent at 12,280.66 and the S&P 500 is down 96.64 points or 2.3 percent at 4,102.48.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.