U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling more than 1% on Friday.

The Dow traded down 0.82% to 38,143.73 while the NASDAQ fell 1.16% to 16,252.28. The S&P 500 also fell, dropping, 0.98% to 5,147.87.

Leading and Lagging Sectors

Energy shares rose by 0.9% on Friday.

In trading on Friday, information technology shares fell by 1.4%.

Top Headline

Wells Fargo & Company(NYSE:C) posted stronger-than-expected earnings for its first quarter.

Wells Fargo reported first-quarter earnings per share of $1.20, beating the analyst consensus of $1.09. Quarterly sales of $20.86 billion topped the Wall Street view of $20.20 billion.

Equities Trading UP

PaxMedica, Inc. (NASDAQ...