Dow slides 240 points | 3-week losing streak on Wall Street | Chime valuation soars

Tech's blues continued Friday as the Wall Street stalwart led the broader market to its third straight weekly decline.

VIEW IN BROWSER | SUBSCRIBE FRI, SEP 18, 2020 EVENING BRIEF AS OF FRI, SEP 18, 2020 • 04:42 ET DJIA 27657.42 -0.88% -244.56 S&P 500 3319.47 -1.12% -37.54 NASDAQ 10793.28 -1.07% -117.00   Most Active DOW NAME LAST CHG %CHG AAPL 106.84 -3.50 -3.17% MSFT 200.39 -2.52 -1.24% INTC 49.89 -0.43 -0.85% S&P 500 NAME LAST CHG %CHG AAPL 106.84 -3.50 -3.17% GE 6.88 -0.17 -2.41% WFC 25.13 +0.02 +0.08% NASDAQ NAME LAST CHG %CHG AAPL 106.84 -3.50 -3.17% TSLA 442.15 +18.72 +4.42% AAL 13.19 -0.44 -3.23%   EDITOR'S NOTE Tech's blues continued Friday as the Wall Street stalwart led the broader market to its third straight weekly decline.   Apple dropped more than 3% and Alphabet pulled back by 2.4%. Amazon and Microsoft each slid more than 1%. Facebook shares were down 0.9% and Netflix posted a slight loss. The six stocks were down sharply for the week. At the S&P 500 sector level, tech fell 1.7% on Friday.   Those declines pressured the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite and cemented their three-week losing streaks. Before this week, the major averages had not fallen for three straight weeks since October 2019.   Tech had been the best-performing sector prior to this recent downturn, as investors increased positions in these names amid changing behavioral dynamics due to the coronavirus pandemic. Many of these companies also have strong balance sheets and generate massive amounts of cash, making them even more attractive investments.   "Since the peak of the pandemic, the market narrative has been dominated by the transition to a 'new normal,'" said Mark Haefele, chief investment officer at UBS Global Wealth Management, in a note. "Yet, with recent gains in broad equity indexes concentrated in relatively few stocks … we think that for markets to move materially higher in the near term we will need to see less of the 'new normal.'"   Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. Fred Imbert | CNBC Markets Reporter @foimbert TOP NEWS  Dow drops 240 points Friday as stocks fall for a third straight week Trump to block downloads of TikTok, WeChat on Sunday Trump says U.S. will manufacture enough coronavirus vaccine doses for every American by April Chime is now worth $14.5 billion, surging past Robinhood as the most valuable U.S. consumer fintech CDC reverses coronavirus guidance that said people without symptoms may not need a test House to consider bills on Chinese goods made with forced labor, Pelosi says Investors see higher taxes, delayed results but election winner by Dec. 8, Goldman says WHO says the coronavirus is killing about 50,000 people a week: 'That is not where we want to be' Apple has quietly dropped 22% from its peak, giving up $500 billion in market cap Here's a recap of the biggest market-moving news   TOP VIDEO Watch CNBC's full interview with Unity Software CEO John Riccitiello   CNBC PRO TikTok, WeChat ban exposes a slew of U.S. tech stocks to Chinese retaliation risk   SPECIAL REPORTS These charts show how wildfires are getting larger, more severe in the U.S. Dr. Fauci: 3 everyday things you can do to help boost your immune system   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS