Roundup: U.S. stocks tumble with global shares

U.S. stocks declined for the fourth straight session amid mixed earnings Friday, as a broad- based sell-off in overseas stock markets triggered worries of a slowing growth in global economy.

The Dow Jones Industrial Average dipped 163.39 points, or 0.92 percent, to 17,568.53. The S&P 500 shed 22.50 points, or 1.07 percent, to 2,079.65. The Nasdaq Composite Index plunged 57.78 points, or 1.12 percent, to 5,088.63.

Euro area's manufacturing purchasing managers' index (PMI) flash, a gauge of the industry activities, fell to 52.2 in July, said Markit Economics Limited Friday.

European equities ended sharply lower Friday as signs of slower global growth weighed on market sentiment, with Germany's benchmark DAX index at Frankfurt Stock Exchange falling 1.43 percent.

In Asia, Chinese shares ended a six-day winning streak amid weak economic data Friday, with the benchmark Shanghai Composite Index closing 1.29 percent lower. Tokyo shares also declined on a stronger yen, with the 225-issue Nikkei Stock Average down 0.67 percent.

In corporate news, Amazon.com soared 9.80 percent to 529.42 U.S. dollars a share Friday after the online retail giant posted an unexpected quarterly profit.

The e-commerce firm's net sales increased 20 percent to 23.18 billion dollars in the second quarter 2015, compared with 19. 34 billion dollars in the second quarter 2014. Net income was 92 million dollars in the second quarter 2015, compared with a net loss of 126 million dollars in the same period a year earlier.

Shares of Biogen, however, plummeted 22.08 percent to 300.03 dollars apiece after its second-quarter revenue missed market estimates. The biotechnology company also lowered its full-year guidance.

Latest data from Thomson Reuters showed that the S&P 500 companies' blended earnings in the second quarter of 2015 are expected to decrease 0.7 percent year on year, while the revenue is forecast to decline 3.9 percent.

On the economic front, U.S. sales of new single-family houses in June were at a seasonally-adjusted annual rate of 482,000, well below market consensus and down 6.8 percent from the revised May level of 517,000, said the Commerce Department Friday.

"June's much weaker-than-expected new home sales, coupled with downward revisions to the past three months, is at odds with other recent housing data, suggesting the summer selling season is not as strong as initially thought," said Sophia Kearney-Lederman, an economic analyst at FTN Financial, in a note.

For the week, the three major indices suffer big losses, with the Dow, the S&P 500 and the Nasdaq dropping 2.9 percent, 2.2 percent and 2.3 percent, respectively.

The CBOE Volatility Index, often referred to as Wall Street's fear gauge, rose 8.70 percent to end at 13.74 Friday.

In other markets, oil prices dropped Friday as worries about a global crude glut continued to weigh on prices.

The West Texas Intermediate for September delivery moved down 31 cents to settle at 48.14 dollars a barrel on the New York Mercantile Exchange, while Brent crude for September delivery decreased 65 cents to close at 54.62 dollars a barrel on the London ICE Future Exchange.

The U.S. dollar climbed against most major currencies Friday as investors were awaiting the closely-watched Federal Reserve meeting next week, in hope of getting further rate-hike signals.

In late New York trading, the euro declined to 1.0980 dollars from 1.1002 dollars in the previous session, while the dollar bought 123.75 Japanese yen, lower than 123.81 yen of the previous session.

Gold futures on the COMEX division of the New York Mercantile Exchange fell Friday as the U.S. dollar showed strength.

The most active gold contract for August delivery lost 8.6 dollars, or 0.79 percent, to settle at 1,085.50 dollars per ounce. Endite