India, Feb. 21 -- Stocks have moved sharply lower in morning trading on Friday, adding to the losses posted in the previous session. The Nasdaq and the S&P 500 are pulling back further off the record closing highs set on Wednesday.

The major averages have climbed off their worst levels in recent trading but remain firmly negative. The Dow is down 248.09 points or 0.9 percent at 28,971.89, the Nasdaq is down 129.18 points or 1.3 percent at 9,621.78 and the S&P 500 is down 30.78 points or 0.9 percent at 3,342.45.

The sell-off on Wall Street comes as traders keep a close eye on the latest coronavirus news, with Chinese officials reporting 1,109 new confirmed cases of the coronavirus, up sharply from 349 cases the previous day.

South Korea...