Amazon, Alphabet, Mattel and other big companies fell sharply after turning in disappointing quarterly results.
The Nasdaq composite, with a hefty roster of tech stocks, bore the brunt of the sell-off, leaving it more than 10 percent below its August peak, what Wall Street calls a "correction".
There have also been disappointing quarterly earnings from several big-name companies, worldwide condemnation of Saudi Arabia - a major oil producer - over the killing of journalist Jamal Khashoggi, and concerns that the US-China trade war is causing the global economy to slow down.
The contract for the S&P 500 was up 0.2 percent at 2,670.80 while that for the Dow Jones Industrial Average edged up less than 0.1 percent to 24,620.00.
The S&P 500 was up 30.19 points, or 1.14 percent, at 2,686.29.
The S&P 500 is down 111.68 points, or 4 percent. The sell-off turned both the Dow and the S&P 500 negative for the year, with stocks on track for their worst October since the financial crisis. Hong Kong's Hang Seng, affected by declines in semiconductor-makers and other tech shares, fell almost 2.5 percent before ultimately recovering and closing down 1 percent. Semiconductor maker Tokyo Electron lost 4 percent and Taiwan Semiconductor Manufacturing Co. dropped 4.4 percent.
US stocks recovered some of their losses Friday following a steep slide in early trading, but the drop was enough to push the benchmark S&P 500 index back into the red for the year.
The Dow is down 135.80 points, or 0.5 per cent.
Caterpillar finished with a drop of 7.5 per cent despite reporting a 63 per cent jump in third-quarter profits to US$1.7 billion. Facebook gave up 4.7 percent to $147.09.
Technology and consumer-focused companied led the declines early Friday. By mid-morning it was down 2.9 per cent at 21,443.72.
On Wednesday, key Wall Street indexes sank by more than 2 percent, further extending losses seen just the day before.
BOND YIELDS: Bond prices rose, sending the yield on the 10-year Treasury note down to 3.11 percent from 3.16 percent late Tuesday.
HOUSING SKID: The Commerce Department said sales of new USA homes plunged 5.5 percent in September, the fourth monthly drop. The Chinese yuan fell to 6.9641 against the greenback, flirting with its weakest point in almost a decade.
That, along with worries ranging from rising borrowing costs and bond yields to Italy's budget and upcoming USA mid-term elections, sparked a rout on Wall Street yesterday. Brent crude, the benchmark for worldwide oil prices, added 0.9 percent to close at $77.62 a barrel in London.
After the closing bell, Microsoft rose 2.7 percent following the release of its results.
Some investors, including David Meier, a portfolio manager at Motley Fool Asset Management, say the sense that stock prices have simply reached their peak is driving the markets, too. In Asia, Japan's benchmark Nikkei 225 lost 0.4 per cent, while South Korea's Kospi dropped 1.8 per cent. Australia's S&P/ASX 200 was flat.
On Friday evening, Meghan Markle served up what is hands-down our favorite look from her and Prince Harry's royal tour thus far. She touched on her why she and her father have spoken out in public interviews since Meghan and Harry tied the knot in May.
Since then, she has also worn two other headpieces from the Queen's collection, including the Lotus Flower and the Lover's Knot. Poor Alexandra needed all the sparkle she could get as she said "I do" for hers was very far from a happy royal event.
On Tuesday, he said Saudi Arabia still intends to increase production to meet demand as US sanctions shrink Iran's crude exports. Concerns over the health of the global economy, leading to the equities sell-off, are seeping into the oil market.
He was, however, declared dead by Saudi Arabia after two weeks of denial about any information on his disappearance. The foreign minister said Saudi Arabia's investigation into Khashoggi's death was still in its early stages.
Later in the day, authorities in Guatemala said another group of about 1,000 migrants had entered that country from Honduras. It remains unclear how numerous caravan's new additions were previously deported from the US for committing violent crimes.
Earlier, Congress Spokesperson Randeep Surjewala said that Gandhi and other leaders were arrested from the CBI headquarters. Asthana is said to have withstood huge political pressures during the fodder scam probe.
NBC have not made any official statement about the future of the show. "She's doing a lot, she's doing a lot of different things". Megyn Kelly will not be back on NBC after this week's controversy over her comments about blackface , TMZ reported Thursday.
He was born a month prematurely with cerebral palsy, as a result of injuries sustained in the shooting , according to ESPN . Carruth still claims he wasn't intending to have Adams killed, but acknowledges a responsibility for what happened.
He pitched in relief again in Game 3, the third time in three games this series, which rules him out. Jackie Bradley Jr . ties the game at 1-1 for the Red Sox with a solo home run in the eighth inning .
Also among the dead were passers-by who had been picnicking in the area, he said, adding that a nearby bridge had collapsed. -Gen. Thirteen people escaped the flooding without injuries, with some holding on to rocks to survive.
Speaking before Trump took the stage, Cruz made clear that their conflict was behind them and that the two were working together. Add Donald Trump as an interest to stay up to date on the latest Donald Trump news, video, and analysis from ABC News.
World's billionaires saw ranks, wealth grow in 2017
These mega-rich increased their wealth by a $1.4 trillion which is more than the entire GDP of Spain or Australia. In 2017, India's billionaires grew from 19 to 119, while their wealth increased by 36 per cent to US$440 billion.
Former England manager Glenn Hoddle 'seriously ill'
He was a schoolboy at Tottenham when I was there and he was the star player that we all looked up to and could never get near. England captain Harry Kane also sent a message, in conjunction with Tottenham, writing: "Thoughts are with Glenn Hoddle".
‘Every eighth woman is at risk of cancer’
These briefings will include five carefully selected articles, created to help women adapt to life after breast cancer. Which means, both Lynda and Teri will be living with cancer and undergoing treatment for the rest of their lives.
Man arrested after Magna Carta historic heist attempt
Police said he remained in custody. "The Magna Carta has not been damaged and nobody was injured in the incident". The suspect was arrested on suspicion of attempted theft, possession of an offensive weapon and criminal damage.
Spain, Japan react on killing of Saudi journalist
Congress and the Europeans, will have deep misgivings about engaging with the crown prince, who is known by his initials MBS. Five Turkish employees of the consulate also gave testimony to prosecutors Monday, Turkish media reported.
Red Sox Notch Game 2 World Series Win Over Dodgers
But he's now pitched in nine of the team's thirteen postseason games, and this week, he hasn't held up well. It marked the first two games in World Series history that a team used an all right-handed lineup.
No. 2 Ohio State stumbles at Purdue, gets blown out
One of the few positives from the game against Purdue was the fact that he had back-to-back games of 100 receiving yards. Quarterback Dwayne Haskins put up huge numbers with 49 completions in 73 attempts for 470 yards and two touchdowns.
Emery explains why he lost against City, Chelsea
Arsenal looks to pick up where it left off prior to the worldwide break when it hosts Leicester City at the Emirates on Monday. Falling behind to Leicester City , it fell to Mesut Ozil , the team's captain for the night, to dig them out of a hole.
Russia probe revival expected if Democrats win House
Elsewhere, Democratic challenger Beto O'Rourke has raised millions of dollars in his bid to unseat Texas Sen. This comes at a time when the House and Senate elections are going in totally opposite directions.
Google to charge Android partners up to $40 per device for apps
Use of popular Google app such as YouTube, Gmail and most especially the Play Store could attract charges for companies in Europe. Under that arrangement, Google would give the device maker a portion of ad revenue it generates through search and Chrome.