(CNBC) Stocks dropped sharply on Friday, concluding what has been a wild week for Wall Street. A weaker-than-expected jobs report and China-U.S. trade tensions sent the Dow Jones Industrial Average lower by 460 points.
The S&P 500 pulled back 1.8 percent and turned negative for the year once again. The Nasdaq Composite dropped 2.5 percent. Shares of large-cap tech companies led the way lower. Facebook, Amazon, Netflix and Google-parent Alphabet all traded lower. Apple’s stock also fell 3 percent — erasing its gains for the year — after Morgan Stanley cut its price target on the tech giant’s shares, citing weakening iPhone sales.
For the week, the major indexes were all down more than 4 percent. Thursday’s session included a violent drop of nearly 800 points, followed by a strong rebound from those levels.