Patti Domm is CNBC executive news editor, responsible for news coverage of the markets and economy. Prior to joining CNBC in 1999 as senior news editor, Domm was the equities editor for the Americas at Reuters. She was also Wall Street editor at Reuters, reporting on mergers, acquisitions and the Street. She also edited three CNBC books on personal investing. Domm serves on the board of the Financial Womens Association of New York.
The latest wave of market turbulence could sweep stocks lower into the summer, but it's not likely to be the start of a deep correction, analysts say.
"My sense is it's not about the dollar getting stronger. It's about the euro getting weaker. I think there's been a bit of erosion in sentiment in part because of the politics in Washington over the deficit," says a chief currency strategist.
The love-in over the social networking site has charged up expectations for more hot IPOs but didn't manage to shake the broader market out of its doldrums.
The put-to-call ratio rose to an elevated level this week, for the sixth time since the market's bull run began in March 2009. Four of the previous five occurrences signaled the end of a minor stock market pullback, as sentiment became overly bearish, according to Kevin Pleines of Birinyi Associates.
"We were deeply oversold and we got the bounce. Now I think we have resistance overhead in the 12,600, 12,700 area on the Dow," says one technical analyst.
Data in the coming week should provide important clues as to whether the Fed will hike rates this summer.
Shares of Palo Alto Networks dropped Friday after the cybersecurity firm guided for lower-than-expected earnings.
Shares of Valeant Pharmaceuticals rose more than 9 percent Friday on reports that the company rejected a joint takeover bid earlier this year.
Shares of Big Lots soared after the company posted better-than-expected earnings and comparable sales Friday morning.
Patti Domm is CNBC Executive Editor, News, responsible for news coverage of the markets and economy.
A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.
Senior Producer - Breaking News
Dominic Chu is a markets reporter for CNBC.
Evelyn Cheng is a markets writer for CNBC.
Sara Eisen is a correspondent for CNBC, focusing on currencies and the global consumer.