Stock market today: Wall Street falls toward its worst week in months as oil jumps | KLRT [Video]

NEW YORK (AP) — U.S. stocks are sinking Friday after a mixed start to earnings reporting season. Worries about tensions in the Middle East are also sending prices for oil and gold higher, while Treasury yields fall as investors look for safer places for their money

The S&P 500 was 0.9% lower in midday trading and heading for its worst weekly loss since the turn of the year. The Dow Jones Industrial Average was down 305 points, or 0.8%, as of 11:45 a.m. Eastern time, and the Nasdaq composite was 1.1% lower.

JPMorgan Chase fell 5.3% despite reporting stronger profit for the first three months of the year than analysts expected. The nation’s largest bank gave a forecast for a key source of income this year that fell below Wall Street’s estimate.

The pressure is always on companies to produce fatter profits. But it’s particularly acute now given worries that …