NEW YORK (Reuters) - U.S. stocks opened lower on Friday after JPMorgan Chase & Co , the first of the major Wall Street banks to report results, posted earnings that were below expectations.
Shares of the Dow component fell 3.7 percent to $55.29.
The Dow Jones industrial average <.DJI> was down 82.52 points, or 0.51 percent, at 16,087.70. The Standard & Poor's 500 Index <.SPX> was down 10.09 points, or 0.55 percent, at 1,822.99. The Nasdaq Composite Index <.IXIC> was down 38.89 points, or 0.96 percent, at 4,015.22.
For the week, the Dow is down 2 percent, the S&P is down 2.2 percent and the Nasdaq is down 2.6 percent, on track for its third straight weekly decline.
(Reporting by Ryan Vlastelica; Editing by James Dalgleish)
