The 30-stock index gave up gains achieved during Friday’s session and plummeted 230.74 points to 32,943.33
The S&P 500 moved down 55.21 points, or 1.3%, to 4,204.31.
The NASDAQ Composite reversed 286.15 points, or 2.2%, to 12,843.81
The Dow secured its fifth straight week of losses as the Russia-Ukraine war continues to be an overhang on financial markets. The S&P and NASDAQ notched their second straight week of losses.
For the week, the Dow lost 2%. Meanwhile, the S&P fell 2.9%, and the NASDAQ slid 3.5% this week.
Rivian slipped 7.6% after missing estimates for the fourth quarter on the top and bottom lines, while DocuSign sank 20.1% after issuing weak guidance for the first quarter and fiscal year.
Certain tech names dragged on the NASDAQ on Friday and continued their weakness since Monday. Zoom Video fell 5%, bringing its weekly losses to nearly 10%. Meta Platforms fell 2.9% and is down 6.2% since Monday.
On the data front, the University of Michigan consumer sentiment index sunk to 59.7 in March, down from 62.8 in February, according to the report released on Friday. This marks the weakest print since September 2011.
Russian President Vladimir Putin said Friday “certain positive shifts” have occurred in the talks between the Kremlin and Ukraine. Meanwhile, President Volodymyr Zelenskyy reportedly said Ukraine has reached a “strategic turning point” in its war with Russia.
Treasury prices surrendered a bit of ground, raising yields to 2% from Thursday’s 1.99%. Treasury prices and yields move in opposite directions.
Oil prices hiked $3.39 to $109.41 U.S. a barrel.
Gold prices dropped $12.70 to $1,987.70 U.S. an ounce.