More losses are hitting Wall Street at the close of a brutal week, and U.S. stocks have erased earlier gains to fall after a nervously anticipated economic report came in close to expectations. The S&P 500 was down 1% in midday trading after erasing an early gain of 0.

Wall Street is getting its own kind of reprieve Friday, and U.S. stocks are coasting toward the close of a brutal week after a nervously anticipated economic report came in close to expectations.