NEW YORK—Stocks fell in late morning trading on Wall Street Friday and are headed for another week of declines following a massive pullback two days ago.
The S&P 500 fell 0.7 percent as of 11:27 a.m. Eastern, and is on track for its seventh straight weekly decline after getting close to entering a bear market this week. The Dow Jones Industrial Average fell 211 points, or 0.7 percent, to 31,041 and the Nasdaq fell 0.9 percent.
All three are headed for drops of 3 percent or more for the week.
Technology stocks fell broadly and weighed down the market. Applied Materials, which produces chipmaking equipment, fell 5.1 percent. The tech sector has been particularly choppy and prompted many of the big swings in the market throughout the week. The lofty stock values for many companies in the sector give it more leverage in pulling the broader market higher or lower….