Good Friday morning and welcome to another hour of squawk on the street.

I'm Sarah Eisen with Mike Santoli live from post 9 of the New York Stock Exchange.

Stocks are in sell-off mode again here.

Look, we got a sharper, sharply down open, and we're continuing to see declines down eight-tenths on the S&P 500. For the NASDAQ, down seven-tenths of a percent. You have every sector lower right now, even sectors like energy, which have actually had a pretty good week, up three percent for the week, and financials, which are also up for the week, health care up for the week everybody's down today

but tech is leading declines in Vidia Micron Broadcom Microsoft all lower for

change Tesla's higher

also some gains in Netflix and meta so it's not

universally lower but we are down

sharply across the board Goldman

biggest declineer on the Dow take a look at treasuries right now. Buying in treasuries yields a little bit lower. The 10-year yield, 4.2%. So we're not seeing pretty sharp declines in treasury yields, but we are seeing declines right now, and the two-year yield just below 4%. 30 minutes here into the trading session here, three big earnings movers we're watching. FedEx, one of the worst performers on the S&P, cutting its full year profit and revenue forecasts.

On the call, executive mentioned weakness or softness in the industrial economy at least nine different times.

More on that story ahead.

Nike is also under pressure.

Warning sales will drop by a double digit percentage in the

current quarter. That's the fourth quarter. The company facing new tariffs, sliding consumer

confidence, and slower than expected corporate turnaround. The streets take also coming this hour.

And then watch Lenard, the home builder, posting a top and bottom line beat, but the company's chairman

calling out a, quote, challenging macroeconomic

environment due to high interest rates, inflation, and a limited supply of affordable homes.

We're on the housing trade later this hour.

But Mike, another day we have declines just when we were starting to wonder if we were

finally going to eke out a gain for the S&P this week, break the four-week leasing streak, find some sort of bottom or short-term bottom and some of these beaten-down tech stocks. Here we go again today. Yeah, pretty apprehensive. I mean, I've been referring to last week's low, which, you know, culminated with that Friday rally as a credible one, a plausible one to have it be a short-term low,

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