U.S. stocks extended declines on Friday as shares of Goldman Sachs slid on reports of a federal probe into the Wall Street powerhouse and after first-quarter gross domestic product came in weaker than expected.

* The Dow Jones industrial average <.DJI> fell 68.32 points, or 0.61 percent, to 11,099.00. The Standard & Poor's 500 Index <.SPX> slipped 9.98 points, or 0.83 percent, to 1,196.80. The Nasdaq Composite Index <.IXIC> gave up 26.09 points, or 1.04 percent, at 2,485.83.

* Financial shares led the way down on the S&P 500, while the Nasdaq fared worse than the other two indexes, weighed by chipmakers. The PHLX Semiconductor Index <.SOXX> fell nearly 4 percent.

(Reporting by Leah Schnurr; editing by Jeffrey Benkoe)