Dow, S&P 500 dragged lower by bank stocks

REUTERS: The S&P 500 and the Dow dropped on Friday with banks leading the way after the U.S. Federal Reserve said it would not extend a temporary capital buffer relief put in place to ease a pandemic-driven stress in the funding market.

Market trading volumes and liquidity are expected to rise on Friday due to"quadruple witching," the quarterly simultaneous expiration of U.S. options and futures contracts. "There is not much of a reason to justify this minor pullback as downside risks have come down significantly and the market is looking at how quickly the economy can reach pre-COVID levels," said Jeff Powell, managing partner at Polaris Wealth Advisory Group in California.

"Apple's changes encourage more businesses to conduct commerce on our platforms," Zuckerberg was quoted as saying on a Clubhouse discussion.

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