US stocks drop; Nasdaq's first close under 4000 since February

Apr 12 2014, 11:26 IST
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'The market has been trying to come back, but each time the selling just picks up' (AP) 'The market has been trying to come back, but each time the selling just picks up' (AP)
SummaryNasdaq: Is the selling over or has it just begun?

500 is 4 percent off its recent high on April 2.

Among tech stocks making big moves Friday, Netflix fell 2.4 percent, Amazon, 1.7 percent and Google's new Class C shares, 1.9 percent.

JPMorgan Chase fell $2.10, or 3.7 percent, to $55.30 on Friday. The nation's biggest bank by assets said its earnings slid 20 percent in the first quarter as revenue from bond trading and mortgage lending declined.

ďThey're just struggling to grow, and then they didn't have the strength out of the investment bank to help offset that,'' said Shannon Stemm, financial services analyst for Edward Jones. ``All around, it's just a lackluster quarter for them.''

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