US open: Stocks sharply lower in early trading

As of 1515 GMT, the Dow Jones Industrial Average was down 1.60% at 35,323.07, while the S&P 500 was 1.26% weaker at 4,609.64 and the Nasdaq Composite came out the gate 0.94% softer at 15,038.19.

The Dow opened 574.57 points lower on Friday, extending losses recorded in the previous session after major indices reversed early gains as investors reacted to increasingly hawkish central banks.

Central banks were still in focus at the open after the Federal Reserve said it would begin dialling back the pace of its asset purchases in January by purchasing just $60.0bn worth of bonds each month, down from $90.0bn in December.

Elsewhere, the European Central Bank left rates unchanged as it said it would phase out its emergency bond-buying programme and increase other stimulus measures, while the Bank of England voted for a surprise increase in interest rates to 0.25% in a bid to stop inflation from taking hold, with prices rising faster than expected.

Tech stocks were weighing on indices again in early trading, with Nvidia and Tesla both trading lower, while FedEx shares were in the green after the logistics giant posted quarterly earnings and revenues overnight that topped expectations.

In terms of earnings, Winnebago shares jumped after posting record first-quarter margins and earnings.

No major data points were slated for release on Friday.

Dow Jones - Risers

International Business Machines Corporation (CDI) (IBM) $127.10 0.93%
Merck & Co. Inc. (MRK) $76.24 0.43%
Honeywell International Inc. (HON) $230.94 0.00%
Dowdupont Inc. (DWDP) $30.52 0.00%
Apple Inc. (AAPL) $171.84 -0.24%
Walmart Inc. (WMT) $142.96 -0.27%
Cisco Systems Inc. (CSCO) $60.08 -0.39%
Coca-Cola Co. (KO) $58.40 -0.43%
Verizon Communications Inc. (VZ) $52.46 -0.55%
Unitedhealth Group Inc. (UNH) $490.14 -0.55%

Dow Jones - Fallers

Goldman Sachs Group Inc. (GS) $382.85 -3.65%
American Express Co. (AXP) $157.88 -3.14%
Johnson & Johnson (JNJ) $168.03 -2.88%
Visa Inc. (V) $208.31 -2.83%
JP Morgan Chase & Co. (JPM) $155.94 -2.79%
Caterpillar Inc. (CAT) $202.10 -1.97%
Chevron Corp. (CVX) $114.61 -1.74%
Salesforce.Com Inc. (CRM) $248.90 -1.67%
Dow Chemical Co. (DOW) $53.80 -1.47%
Travelers Company Inc. (TRV) $159.90 -1.31%

S&P 500 - Risers

Cerner Corp. (CERN) $89.57 12.67%
FedEx Corp. (FDX) $256.29 7.45%
Edwards Lifesciences Corp. (EW) $122.26 2.25%
Royal Caribbean Cr (RCL) $70.28 2.15%
Arconic Inc. (ARNC) $32.00 1.81%
Arista Networks Inc. (ANET) $132.31 1.67%
Charter Communications Inc. (CHTR) $641.99 1.65%
Digital Realty Trust (DLR) $174.59 1.51%
Crown Castle International (CCI) $203.37 1.45%
Extra Space Storage (EXR) $217.46 1.42%

S&P 500 - Fallers

Darden Restaurants Inc. (DRI) $138.45 -5.90%
Oracle Corp. (ORCL) $97.88 -5.17%
Wells Fargo & Co. (WFC) $48.29 -4.00%
Svb Financial Group (SIVB) $655.30 -3.96%
Starbucks Corp. (SBUX) $109.25 -3.82%
Regions Financial Corp. (RF) $21.14 -3.72%
National Oilwell Varco Inc. (NOV) $12.72 -3.67%
Huntington Bancshares Inc. (HBAN) $14.81 -3.67%
Goldman Sachs Group Inc. (GS) $382.85 -3.65%
Eli Lilly and Company (LLY) $268.92 -3.63%

Nasdaq 100 - Risers

Cerner Corp. (CERN) $89.57 12.67%
Charter Communications Inc. (CHTR) $641.99 1.65%
Vodafone Group Plc ADS (VOD) $15.28 1.46%
Biomarin Pharmaceutical Inc. (BMRN) $84.80 1.45%
Broadcom Inc. (AVGO) $628.99 1.34%
Incyte Corp. (INCY) $72.96 1.33%
Skyworks Solutions Inc. (SWKS) $148.24 1.26%
Tesla Inc (TSLA) $938.55 1.25%
eBay Inc. (EBAY) $64.81 1.20%
Take-Two Interactive Software Inc. (TTWO) $174.60 1.08%

Nasdaq 100 - Fallers

Starbucks Corp. (SBUX) $109.25 -3.82%
NetEase Inc. Ads (NTES) $95.38 -3.50%
Adobe Systems Inc. (ADBE) $549.76 -2.88%
PACCAR Inc. (PCAR) $83.70 -2.57%
Paypal Holdings Inc (PYPL) $183.96 -2.54%
Trip.com Group Limited (TCOM) $21.89 -2.49%
Wynn Resorts Ltd. (WYNN) $78.66 -2.36%
Mercadolibre Inc. (MELI) $1,151.85 -2.22%
Fiserv Inc. (FISV) $102.66 -2.06%
CSX Corp. (CSX) $35.83 -2.02%