U.S. stocks open lower as banks kick off earnings reporting for fourth quarter

U.S. stocks opened lower Friday as banks kicked off earnings reporting for the fourth quarter. The Dow Jones Industrial Average was down 0.7% soon after the opening bell, while the S&P 500 fell 0.8% and the Nasdaq Composite dropped 0.9%, according to FactSet data, at last check. Investors are weighing fourth-quarter results from Wall Street banks including JPMorgan Chase & Co. , Bank of America Corp. , Citigroup Inc. and Wells Fargo & Co. .

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