New York, Dec 18, 2015 (AFP) – The Dow dropped more than two percent Friday as US stocks finished a volatile week sharply lower due in part to worries about falling oil prices.
Shortly after the closing bell, the Dow Jones Industrial Average was at 17.126.92, down 368.92 points (2.11 percent).
The broad-based S&P 500 fell 36.46 (1.79 percent) to 2,005.43, while the tech-rich Nasdaq Composite Index lost 79.47 (1.59 percent) at 5,923.08.
Oil prices fell to fresh multi-year lows as a continued supply glut weighs on the commodity and petroleum-linked stocks. Analysts said Wednesday’s monumental decision to lift US interest rates for the first time in nearly a decade has also spurred greater volatility.
Analysts said technical factors were also exacerbating the losses. Friday was the so-called “quadruple witching” deadline when many futures and options contracts expire.