The Dow was lower by around 450 points, or 1%, in early-afternoon trading, the S&P 500 lost 1.4% and the Nasdaq Composite was down by 1.9% after a selloff in Big Tech stocks. Shares of Tesla (TSLA) fell by around 4.

Wall Street limped to a downbeat end of the trading week on Friday as a sell-off in Big Tech stocks dragged the Dow Jones Industrial Index down by more than 500 points at one point during the session.

U.S. stocks on Thursday overcame a lower open to turn positive, though momentum remained weak as Wall Street's attempt to continue a Santa Claus rally came under pressure, after the best Christmas Eve session since 1974.