US stocks slide; Yelp jumps 60 percent after IPO

MATTHEW CRAFT AP Business Writer Published:

NEW YORK (AP) -- Stock indexes are lower in midday trading, putting the Dow Jones industrial average on track for its first weekly loss following two weeks of gains.

The Dow is down 28 points to 12,951 shortly before noon Friday.

Yelp Inc. jumped more than 60 percent on its first day of trading. The online review site's initial public offering valued the company at $900 million.

In other trading, the broader S&P 500 is down 4 points to 1,369. The Nasdaq is down 7 points to 2,981.

Both the Dow and Nasdaq are trading below milestones hit earlier this week. The Dow closed above 13,000 Tuesday for the first time since May 19, 2008. The Nasdaq composite index broke the 3,000 level Wednesday for the first time since 2001.