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Weak Q2 Earnings, Downbeat Forecasts Send Stocks Skidding Friday; 10% Decline for Amazon.com Has Consumer Stocks Plunging

Stocks fell Friday, with disappointing earnings results by bellwether firms like Amazon.com ( AMZN ) and Visa ( V ) keeping all of the major indices underwater today. All 10-industry sectors in the S&P 500 finished the session in the red, with consumer discretionary stocks taking the hardest hits after AMZN posted a larger-than-expected net loss during its June quarter and Starbucks ( SBUX ) and Swift Transportation ( SWFT ) warned future earnings may lag Wall Street expectations. Ongoing tensions in the Middle East and Ukraine also continued to weigh on equities, with gold futures also rising in haven-shopping by investors.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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