Stocks are falling in a broad sell-off after a report showed that the U.S. economy isn't growing as quickly as economists expected.
The Commerce Department said Friday that gross domestic product grew at an annual rate of 3.2 percent between October and December. That was below the 3.5 percent that analysts had forecast.
Disappointing earnings reports are also sending stocks lower. Ford Motor Co. is down 12.5 percent after its earnings fell short of Wall Street's projections. Amazon.com Inc. is down 8.3 percent after it said higher costs are cutting into profits.
The Dow Jones industrial average fell 120 points, or 1 percent, to 11,868 in late morning trading. The S&P 500 fell 16, or 1.2 percent, to 1,283. The Nasdaq composite fell 57, or 2 percent, to 2,698.