U.S. indices fell in midday trading Friday, reversing gains made in the prior day as trading volatility around stocks such as GameStop Corp. (NYSE: GME) and AMC Entertainment Holdings Inc. (NYSE: AMC) mounts.
The S&P 500 dipped 2.1% to 3,706.96, while the Dow Jones Industrial Average fell 2.1% to 29,965.43.
The Nasdaq was down 2.2% to 13,042.22.
Crude oil decreased 0.4% to $52.11.
Gold rose 0.7% to $1,853.80.
The yield on a 10-year Treasury was up 1.1% to 1.07%.
Irvine chipmaker Skyworks Solutions Inc. (Nasdaq: SWKS) rose 6.1% to $169.54, a day after reporting better-than-expected results for its fiscal first quarter ended Jan. 1. The company had a recent market cap of $28 billion.
Irvine-based medical device maker Axonics Modulation Technologies Inc. (Nasdaq: AXNX) fell 6.2% to $50.12 for a market cap of $2 billion. The company’s down 13% since Monday, when it reported preliminary fourth-quarter and full-year results.