U.S. Stocks Pulling Back Sharply On Profit Taking, Treasury Yield Spike

Stocks have moved sharply lower during trading on Friday, giving back ground following the strength seen in the previous session. The major averages have all shown notable moves to the downside on the day.Currently, the Dow is down 495.24 points or 1 percent at 49,568.22, the Nasdaq is down 316.72 points or 1.2 percent at 26,318.50 and the S&P 500 is down 71.77 points or 1 percent at 7,429.47.The …