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Richard Drew, AP
Trader John Santiago, left, and specialist Patrick Murphy work on the floor of the New York Stock Exchange, Thursday, Jan. 14, 2016.U.S. stocks moved slightly lower in early trading Thursday, extending losses following the worst market drop since September. Investors had their eye on the latest company earnings and outlooks. Consumer discretionary stocks were among the biggest decliners. (AP Photo/Richard Drew)

U.S. stocks are mixed in the early going as the market stabilizes following its worst drop since September.

JPMorgan Chase rose 1 percent Thursday after the bank reported earnings that were better than analysts expected. Other bank stocks also gained.

The Dow Jones industrial average was flat at 16,148 as of 9:35 a.m. Eastern time.

The Standard & Poor's 500 index was little changed at 1,890. The Nasdaq edged down 13 points, or 0.1 percent, to 4,512.

The relatively quiet trading came a day after the S&P 500 index slumped 2.5 percent, putting it 10 percent below its peak in November.

A drop that big is referred to as a "correction" on Wall Street. The last time the market had one was last August.