The Dow Jones Industrial Average on Friday midday was trading at session lows, with shares of Johnson & Johnson delivering the biggest headwind to the blue-chip gauge.
The Dow was off 120 points, or 0.5%, at 26,906, with shares of J&J cutting about 42 points from the index. The S&P 500 index was down 0.4% at 2,986, while the Nasdaq Composite Index was trading 0.9% lower at 8,080. J&J was trading sharply lower and weighing down the the Dow, where it is a component, after the consumer products and drug company said it was recalling "a single lot" of Johnson's Baby Powder after tests revealed traces of chrysotile asbestos.
Meanwhile, Federal Reserve Vice Chairman Richard Clarida on Friday said the economy is facing "evident" risks, while inflation remains muted.
Source : Marketwatch