(CNBC) U.S. stocks declined on Friday, with the S&P 500 recording its worst this year, as momentum from the prior day's rout remained in play.
Procter & Gamble gained after the consumer-goods company posted profit that exceeded estimates; Tesla Motors climbed after the electric-car maker projected increased output in 2015; shares of LinkedIn rallied after the professional network projected revenue that topped expectations and GoPro slid after the maker of wearable cameras reported a larger quarterly decline from the year-ago period.
Several market strategists said there were few fundamental reasons driving the market lower, other than it's been a long while since equities had a sizable pullback.
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"The market is ripe for a pullback; anxieties are sufficiently high enough for that to occur," said Mark Luschini, chief investment strategist at Janney Montgomery Scott.