Stocks are falling as investors worry China might try to slow its surging economy to combat inflation.
The losses in the U.S. Friday follow steep drops overnight in major Chinese indexes as traders fear that country might have to raise interest rates to fight inflation. Cooling China's economy could have an impact worldwide because the country's robust economy has helped offset sluggish growth in the U.S. and elsewhere.
Energy and materials stocks are among the big losers as the prices of oil, gold and other commodities fall sharply.
The Dow Jones industrial average is down 66, or 0.6 percent, at 11,217. The S&P 500 is down 11, or 0.9 percent, at 1,203, while the Nasdaq composite is down 23, or 0.9 percent, at 2,532.