U.S. stocks turned negative for the year on Friday, led lower by technology shares after Google Inc's revenue and chipmaker Advanced Micro Devices Inc's sales outlook disappointed investors.

Continued worries about earnings growth after the White House proposed to curb risk-taking by U.S. banks also weighed on financial stocks and the overall market.

There are better ways to rein in risk-taking than imposing fees. For financials, that (proposal) is a big concern, said Janna Sampson, co-chief investment officer at OakBrook Investments LLC in Lisle, Illinois.

JPMorgan Chase & Co fell 1.1 percent to $40.08 and the KBW bank index <.BKX> lost 1.1 percent.

Internet company Google Inc's earnings beat forecasts on Thursday, but revenue missed some estimates and its shares fell 3.4 percent to $562.98.

Advanced Micro Devices Inc also beat estimates but the company warned sales in the first quarter of 2010 will be down. Its shares tumbled 9.9 percent to $8.10.

Some of the declines (on tech shares) are just a catching-up because Nasdaq was holding up better on expectation of good numbers from Google, AMD and others. Now they are coming in line with the rest of the market, Sampson said.

The Dow Jones industrial average <.DJI> lost 34.46 points, or 0.33 percent, to 10,355.42. The Standard & Poor's 500 Index <.SPX> fell 4.82 points, or 0.43 percent, to 1,111.66. The Nasdaq Composite Index <.IXIC> dropped 15.44 points, or 0.68 percent, to 2,250.26.

The S&P 500 fell into the red for the year, joining the Dow and Nasdaq which ended in negative territory for 2010 on Thursday. Year to date, the Dow is off 0.8 percent, the S&P is down 0.3 percent and the Nasdaq has lost 0.9 percent.

Credit card company Capital One Financial Corp tumbled 7.7 percent to $39.41 a day after the bank and credit card lender warned it faced tightening profit margins on loans it is making.

Capital One and American Express Co reported higher-than-forecast fourth-quarter earnings on Thursday but expressed concern about the growth outlook for credit cards.

AmEx shares dropped 4.7 percent to $40.20.

On the upside, General Electric Co shares advanced 3 percent to $16.50, while McDonald's Corp rose 1.7 percent to $64.25 and was the top Dow gainer after both companies reported earnings that topped expectations.

(Editing by Kenneth Barry)

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