By April Joyner
Shares of JPMorgan Chase & Co
"If you didn't own financials going into the quarter, there was nothing in the numbers today that would make you excited about owning them," Grant said.
The renewed possibility of a strike in Syria "is enough to cause heartburn for the market," said Robert Phipps, a director at Per Stirling Capital Management in Austin, Texas. "There's a ton of uncertainty right now so investors don't want to go into the weekend particularly long."
The Dow Jones Industrial Average <.DJI> fell 122.91 points, or 0.5 percent, to 24,360.14, the S&P 500 <.SPX> lost 7.69 points, or 0.29 percent, to 2,656.3 and the Nasdaq Composite <.IXIC> dropped 33.60 points, or 0.47 percent, to 7,106.65.
Still, for the week, the S&P 500 rose 1.99 percent, the Dow gained 1.79 percent, and the Nasdaq added 2.77 percent.
Friday's bank results kicked off earnings season, with Thomson Reuters data predicting profits at S&P 500 companies increased by 18.6 percent in the first quarter from a year ago, their biggest rise in seven years.
While the U.S. economy is performing well, geopolitical issues are weighing on stock markets this year.
Senior Russian lawmakers said on Friday that the lower house of parliament would consider draft legislation giving the Kremlin powers to ban or restrict a list of U.S. imports, reacting to new U.S. sanctions on Russian tycoons and officials.
Issues with engines for Boeing's 787 Dreamliner planes also weighed on the company's shares.
Declining issues outnumbered advancing ones on the NYSE by a 1.28-to-1 ratio; on Nasdaq, a 1.64-to-1 ratio favoured decliners.
Volume on U.S. exchanges was 5.78 billion shares, compared to the 7.22 billion average for the full session over the last 20 trading days.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)