(CNN) — Stocks sank again in early trading Friday morning. A solid jobs report was not enough to convince investors to look for bargains following Thursday’s more-than-1,000-point plunge.

The Dow was down more than 100 points in late-morning trading, after plummeting more than 500 points shortly after the opening bell. Nike was the biggest drag on the blue chips, falling nearly 5%. Nike rival Adidas issued a lousy earnings report Friday because of weakness in China.

The S&P 500 and Nasdaq also tumbled again Friday, falling 0.4% and 0.5% respectively. All three indexes are down for the week.

The Dow is on pace for its sixth consecutive weekly loss, while the S&P 500 and Nasdaq have fallen for the past five. The stock market is now at its lowest point for the year.

“It’s a crazy time,” said Scott Lepene, co-chair of Thompson Hine. “The market is reacting as if we are in a recession. We may not have bottomed out just yet.”

The-CNN-Wire™ & © 2022 Cable News Network, Inc., a Time Warner Company. All rights reserved.

Join our Newsletter for the latest news right to your inbox