Stocks were little changed on Friday as traders parsed through the first batch of fourth-quarter earnings while they digested the second in a pair of closely watched inflation reports this week.
The Dow Jones Industrials plunged 196.49 points at 37,514.53.
The S&P 500 sagged 7.27 points to 4,772.59.
The NASDAQ dropped 31.09 points to 14,939.10.
On the week, the major averages are heading for modest gains. The Dow is up about 0.7%, while the S&P 500 is tracking for a 2.2% advance.
The NASDAQ is up more than 3.5% through Thursday's close.
UnitedHealth dragged the Dow lower, with the stock losing 4.2% despite the company announcing higher-than-expected earnings and revenue for the fourth quarter. Delta Air Lines also fell more than 7% even after exceeding quarterly earnings expectations.
A slew of big banks also reported earnings before the bell on Friday. Bank of America lost more than 1.5% after posting declining fourth-quarter profit, while Wells Fargo shares shed nearly 2% despite posting a higher profit for the quarterly period. Shares of JPMorgan Chase rose by 1% even after the bank said its earnings slipped by 15% from a year earlier.
Citigroup, meanwhile, shed about 1% after announcing the company is cutting 10% of its workforce. Earlier Friday, the bank posted a $1.8 billion quarterly loss after incurring several large charges.
Investors got some encouraging news on inflation Friday with wholesale prices unexpectedly declining by 0.1% in December. The data follows the more widely followed consumer prices data Thursday, which came in modestly hotter than economists had forecasted, with prices up 0.3% on the month and 3.4% from a year ago.
Prices for the 10-year Treasury jumped, lowering yields to 3.94% from Thursday's 3.98%. Treasury prices and yields move in opposite directions.
Oil prices added $1.99 to $74.01 U.S. a barrel.
Gold prices hiked $45.20 to $2,064.40.