Stocks drop to end the week | IRS delays tax season | Global Covid deaths top 2 million

Investors were licking their chops ahead of a potentially big Covid stimulus announcement from President-elect Joe Biden on Thursday.

VIEW IN BROWSER | SUBSCRIBE FRI, JAN 15, 2021 EVENING BRIEF AS OF FRI, JAN 15, 2021 • 04:30 ET DJIA 30814.26 -0.57% -177.26 S&P 500 3768.25 -0.72% -27.29 NASDAQ 12998.50 -0.87% -114.14   Most Active DOW NAME LAST CHG %CHG AAPL 127.14 -1.77 -1.37% INTC 57.58 -1.67 -2.82% MSFT 212.65 -0.37 -0.17% S&P 500 NAME LAST CHG %CHG AAPL 127.14 -1.77 -1.37% F 9.83 -0.34 -3.34% WFC 32.04 -2.71 -7.80% NASDAQ NAME LAST CHG %CHG AAPL 127.14 -1.77 -1.37% INTC 57.58 -1.67 -2.82% AMD 88.21 -2.58 -2.84%   EDITOR'S NOTE Investors seemingly got what they expected from President-elect Joe Biden's Covid stimulus proposal as well as the first batch of bank earnings. Their reaction to this was to book some profits before the long holiday weekend.   The Dow Jones Industrial Average fell 177 points, or 0.6%. The S&P 500 slid 0.7%, and the tech-heavy Nasdaq Composite dropped 0.9%. All three of the major indexes also posted a loss for the week.   Friday's decline came after Biden unveiled a government aid package worth $1.9 trillion. The plan includes increasing the additional federal unemployment payments to $400 per week and extending them through September, and direct payments to many Americans of $1,400.   Tom Essaye, founder of The Sevens Report, said the proposal was "being met by a 'sell the news' reaction as markets already priced in most of what was included."   "Plans for future historical stimulus, easy Fed policy and vaccines are now well known, and as such those catalysts simply don't have the positive influence on stocks that they have over the past few months," he said. This dynamic of selling on the news was also seen in shares of JPMorgan Chase, Wells Fargo and Citigroup. All three companies reported better-than-expected quarterly earnings, but their stocks still closed lower on the day.   Catch The News with Shepard Smith at 7 p.m. ET on CNBC. The nightly newscast provides deep, non-partisan coverage and perspective on the day's most important stories. Fred Imbert | CNBC Markets Reporter @foimbert TOP NEWS  Dow falls more than 150 points to close out a losing week Covid live updates: Global death toll tops 2 million as U.S. mayors push for more vaccine help Trump to depart White House hours before Biden inauguration, flying Air Force One to Mar-a-Lago last time New Covid variant first found in U.K. could become dominant strain in U.S. by March, CDC says WHO says Covid vaccines aren't 'silver bullets' and relying entirely on them has hurt nations 'Strong evidence' pro-Trump rioters intended to kill Pence, members of Congress, federal prosecutors say Bank earnings show a 'tale of two cities' — three analysts explain what that means for 2021 Pence called Kamala Harris this week to offer assistance ahead of inauguration Jamie Dimon says JPMorgan Chase should absolutely be 'scared s---less' about fintech threat IRS delays start of tax filing season to Feb. 12   TOP VIDEO Boston Fed's Rosengren: Biden stimulus a big package but I think it's appropriate   CNBC PRO Microcap stock mania to start 2021 is a signal of more gains, and potential danger, ahead   SPECIAL REPORTS Critics say Biden's Covid relief plan breaks promise of $2,000 stimulus checks Brooklyn Nets star Kyrie Irving will forgo over $800,000 for violating NBA Covid-19 rules   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2021 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