Major U.S. stock indexes closed lower Friday, their third decline for the week.
The government reported that the U.S. economy grew at a slower pace than expected in the final quarter of 2014 even as wages rose.
The Dow Jones industrial average fell 251.90 points, or 1.5 per cent, to 17,164.95.
The Standard & Poor’s 500 index slid 26.26 points, or 1.3 per cent, to 1,994.99.
The Nasdaq composite lost 48.17 points, or 1 per cent, to 4,635.24.
For the week:
The Dow is down 507.65 points, or 2.9 per cent.
The S&P 500 index is down 56.83 points, or 2.8 per cent.
The Nasdaq is down 122.64 points, or 2.6 per cent.
For the year:
The Dow is down 658.12 points, or 3.7 per cent.
The S&P 500 index is down 63.91 points, or 3.1 per cent.
The Nasdaq is down 100.82 points, or 2.1 per cent.