Stocks slide toward third weekly decline; Netflix plunges

Stocks extended their losses on Wall Street Friday as major indexes headed for another weekly loss.

The S&P 500 fell 1.6% and the Dow Jones Industrial Average fell 1.1%. The Nasdaq fell 2.2%, slipping further into a correction, or more than 10% below its peak.

Technology and communications stocks fell.

Netflix plunged over 20% after the streaming service delivered another quarter of disappointing subscriber growth.

Treasury yields fell. Inflation fears and concerns about the impact of higher interest rates have prompted a cautious shift in the broader market after a solid year of gains in 2021.