The stock market was hit hard Friday, capping a third week of declines, as investors reacted to a steep drop in oil prices and a jump in the value of the dollar. Utilities, companies that make basic materials like steel, and major exporters had the biggest declines.
The Dow Jones industrial average fell 145.91 points, or 0.8 per cent, to 17,749.31.
The Standard & Poor’s 500 index lost 12.55 points, or 0.6 per cent, to 2,053.40.
The Nasdaq composite fell 21.53 points, or 0.4 per cent, to 4,871.76.
For the week:
The Dow lost 107.47 points, or 0.6 per cent.
The S&P 500 index fell 17.86 points, or 0.9 per cent.
The Nasdaq lost 55.61 points, or 1.1 per cent.
For the year:
The Dow is down 73.76 points, or 0.4 per cent.
The S&P 500 index is down 5.50 points, or 0.3 per cent.
The Nasdaq is up 135.70 points, or 2.9 per cent.