Tech companies lead stocks sharply lower in morning trading
Stocks fell sharply in morning trading Friday, putting the market on track for its worst week in two years, as several large companies sank after reporting weak earnings. Exxon Mobil, Chevron and Google's parent company, Alphabet, all dropped. Bond yields shot higher after the government reported another month of strong job gains, further stoking fears of inflation and worries that higher interest rates could weigh on companies and stock prices. Crude oil prices headed lower.
KEEPING SCORE: The Standard & Poor's 500 index fell 23 points, or 0.8 percent, to 2,798 as of 11:08 a.m. Eastern Time. The benchmark index is down 2.7 percent since hitting a record high a week ago. The Dow Jones industrial average lost 281 points, or 1.