Stocks fall, rise and fall again as investors fret

— -- U.S. stocks fell, rose and fell again Friday, reversing early losses but then succumbing to a global sell-off stoked by economic jitters and Europe's debt problems.

Shares of software maker Intuit soared 12%, the most in the S&P 500, after the company reported better-than-expected earnings in the fiscal fourth quarter.

European banking shares fell near two-and-a-half-year lows, dragged down by rumors about banks' potential losses on bonds issued by heavily-indebted governments. Earlier, Asian shares took a beating, with major indexes in China and Japan losing more than 2.5%.

Thursday marked a return to the volatile trading that led to record-setting market swings last week. A raft of bad economic news overseas and in the U.S. spooked investors. Economists with Morgan Stanley said the U.S. and Europe are "dangerously close to recession," adding, "it won't take much in the form of additional shocks to tip the balance."

Investors continued to swap risky investments for those viewed as safe. The yield on the benchmark 10-year Treasury note rose slightly to 2.10% after hitting a record-low below 2% Thursday. Bond yields fall as their prices rise.

As stock selling continued overseas Friday, gold rose as high as $1,881 an ounce. Oil prices fell as traders feared a global slowdown that would cut demand for crude, but then recovered to make a small gain.