US dip as volatile week winds down

Wall Street stocks dipped in early trade Friday as the US market clung to its gains for the week after rocky trade prompted by fears about the Chinese economy.

About 20 minutes into trade, the Dow Jones Industrial Average was down 75.60 points (0.45 percent) at 16,579.16.

The broad-based S&P 500 fell 6.03 (0.30 percent) to 1,981.63, while the tech-rich Nasdaq Composite Index lost 12.49 (0.26 percent) at 4,800.22.

Heading into Friday, the S&P 500 was up about 0.85 percent for the week after strong gains on Wednesday and Thursday compensated for deep losses the prior two days.

Global markets have been rocked by worries that a retreat in the Chinese equity market signals a major slowdown in the world's second-biggest economy.

On Friday, the Shanghai index gained 4.82 percent. Equity markets in Paris and Frankfurt were lower Friday, while London was flat.

Briefing.com analyst Patrick O'Hare described trade this week as "crazy," adding "that craziness isn't likely to go away soon either."