(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.”
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