India, March 22 -- Stocks have moved sharply lower in morning trading on Friday, giving back ground following the rally seen in the previous session. The major averages moved lower at the open and have seen further downside since then.
In recent trading, the Nasdaq and the S&P 500 have fallen to new lows for the session. The Dow is down 271.15 points or 1 percent at 25,691.36, the Nasdaq is down 92.70 points or 1.2 percent at 7,746.26 and the S&P 500 is down 30.03 points or 1.1 percent at 2,824.85.
The pullback on Wall Street may partly reflect profit taking, with traders cashing in on recent gains after yesterday's strong upward move lifted the Nasdaq and the S&P 500 to new five-month closing highs.
Lingering uncertainty about trade tal...