U.S. stocks closed sharply lower Friday, handing the Standard & Poor's 500 index its worst week in two years and sending the Dow Jones industrial average down more than 650 points.
Technology, banks and energy stocks accounted for much of the broad slide. Bond yields rose sharply after the government reported the fastest wage growth in eight years, stoking fears of inflation.
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The S&P 500 index fell 59.85 points, or 2.1 percent, to 2,762.13.
The Dow lost 665.75 points, or 2.5 percent, to 25,520.96.
The Nasdaq slid 144.92 points, or 2 percent, to 7,240.95.
The Russell 2000 index of smaller-company stocks gave up 32.59 points, or 2.1 percent, to 1,547.27.
For the week:
The S&P 500 fell 110.74 points, or 3.9 percent.
The Dow lost 1,095.75 points, or 4.1 percent.
The Nasdaq slid 264.83 points, or 3.5 percent.
The Russell 2000 shed 60.79 points, or 3.9 percent.
For the year:
The S&P 500 is up 88.52 points, or 3.3 percent.
The Dow is up 801.74 points, 3.2 percent.
The Nasdaq is up 337.56 points, or 4.9 percent.
The Russell 2000 is up 11.76 points, or 0.8 percent.