Wall St opens lower after JPMorgan results

NEW YORK (Reuters) - U.S. stocks opened lower on Friday after JPMorgan Chase & Co , the first of the major Wall Street banks to report results, posted earnings that were below expectations.

Shares of the Dow component fell 3.7 percent to $55.29.

The Dow Jones industrial average was down 82.52 points, or 0.51 percent, at 16,087.70. The Standard & Poor's 500 Index was down 10.09 points, or 0.55 percent, at 1,822.99. The Nasdaq Composite Index was down 38.89 points, or 0.96 percent, at 4,015.22.

For the week, the Dow is down 2 percent, the S&P is down 2.2 percent and the Nasdaq is down 2.6 percent, on track for its third straight weekly decline.

 

(Reporting by Ryan Vlastelica; Editing by James Dalgleish)