NEW YORK - The stock market fell sharply Friday, dragged down by disappointing quarterly results from Amazon and Ford.
Escalating tensions between the U.S. and Russia over Ukraine also weighed on the market.
Worried investors sold their risky assets and moved into the traditional havens: bonds, gold and stocks that pay high dividends like utilities.
The Standard & Poor's 500 fell 15.21 points, or 0.8 percent, to 1,863.40. The Dow Jones industrial average lost 140.19 points, or 0.9 percent, to 16,361.46 and the Nasdaq composite lost 72.78 points, or 1.8 percent, to 4,075.56.
Friday's sell-off was enough to push the Dow, S&P 500 and Nasdaq into the red for the week.
Technology stocks, which have been volatile for the last two months, were once again a hotbed of selling.
Amazon, the world's largest online store, sank $33.32, or 10 percent, to $303.83.
Amazon reported late Thursday an increase in first-quarter profit, but the company also said that spending on investments will likely lead to an operating loss in the second quarter.
The retail giant dragged the rest of the technology sector lower, making it one of the worst performing sectors in the S&P 500.
Netflix fell more than 6 percent, Priceline lost 5 percent, Facebook fell 5 percent and Twitter lost more than 7 percent.
Investors have had little patience for companies missing their forecasts this quarter, said Scott Clemons, chief investment strategist at Brown Brothers Harriman.
"The market is in a precarious position at the moment, and overreacts to bad news far more than it did last year," he said, noting as an example the 10 percent drop in Amazon's stock price, even though the company met analysts' forecasts for the most recent quarter.