Stocks Extend Losses; Blue Chips Down 139 Points
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iStock/Thinkstock(NEW YORK) — The markets call it a week with another sell-off Friday. This time, bank stocks joined the tech sector in the slide.
The Dow Jones Industrial Average fell 139 points to 16,026.75. The Nasdaq Composite plunged 54 points, closing the day just shy of 4,000 at 3,999.73. The S&P 500 closed down 17 points to finish at 1,815.69.
“Momentum” stocks like social media and biotech are down more than 20 percent. Bank stocks dropped after JP Morgan Chase’s Q1 earnings fell short of expectations.
Meanwhile, you may be owed an income tax refund this year, but if someone in your family cheated the government you may have to pay for it now. The Treasury Department’s intercepting relatives’ refunds after a change in the law allowed it. The filing deadline is Tuesday.
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