Stocks ended the week down 1% as disappointment in earnings and economic news snapped the market's recent winning streak.
The Dow Jones Industrial Average lost 261.41, or 2.5 percent, to close at 10,097.90 Friday after a report showed consumer sentiment dropped to its lowest level in nearly a year and as the latest batch of earnings disappointed.
All 30 components ended lower, led by Bank of America [BAC 13.98 -1.41 (-9.16%) ], which dropped a whopping 9 percent.
Though, for the week, Boeing [BA 61.90 -2.47 (-3.84%) ] was the biggest drag on the Dow, down 4.3 percent.
Today's decline, coupled with a modest loss Thursday, clipped the Dow's seven-day winning streak, leaving the index down 1 percent for the week.
The Nasdaq finished the week down 0.8 percent. The biggest drag on the Nasdaq 100 was Apple, which lost nearly 4 percent amid worries about a glitch with the iPhone 4.
Apple [AAPL 249.90 -1.55 (-0.62%) ] CEO Steve Jobs held a press conference Friday to address the problem, which causes calls to be dropped. The stock got a quick pop after Jobs said the company will give customers a free case to help correct the glitch but ended down 0.6 percent.
"We're not feeling right now that we have a giant problem we need to fix," Jobs said.