NEW YORK (CNNMoney)
The Dow Jones industrial average, the S&P 500 and the Nasdaq were flat in early morning trading Friday, but the pain of Thursday's sell-off still lingers.
"After big moves yesterday, the market is limping into the weekend," said Marc Chandler, strategist for Brown Brothers Harriman. "There's like an eerie calm settling over the markets."
For the week, all three indexes are down between 1.5% and 2%.
Fed jitters: Questions about the Federal Reserve's next move continue to remain unanswered. Many traders think the Fed will start to taper its $85 billion in monthly bond buying sooner rather than later.
Those worries have put pressure on stocks and pushed the yield on the 10-year Treasury to 2.8% from 2.6% at the start of the week.
Are consumers still spending? Investors are also growing nervous about the health of the consumer in light of weak earnings from a number of retailers.
Nordstrom (JWN, Fortune 500) was the latest to disappoint. The upscale department store's revenue came in short of forecasts and it also offered weak guidance for the remainder of the year, sending shares lower.
Related: Fear is back in the market
Dell (DELL, Fortune 500) reported solid quarterly results after the close Thursday, though shares fell slightly in after-hours trading. The company's future is still in limbo as founder Michael Dell attempts to take it private.
What the heck happened in China? Asian markets went on a wild ride, triggered by a possible trading error in Shanghai that sent China's marquee index soaring before momentum reversed. The Shanghai Composite index ended with a 0.6% loss. Stocks in Hong Kong were flat and Japan's Nikkei lost 0.8%.
Meanwhile, European markets suffered alongside U.S. indexes Thursday, and were mostly lower in morning trading on Friday, though the CAC 40 in Paris was little changed.
First Published: August 16, 2013: 9:57 AM ET
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