U.S. Stocks End Week With Solid Losses

By Anora MahmudovaMarketWatch Pulse

U.S. stocks fell for the fourth straight session on Friday, leaving indexes with the biggest weekly losses in months. Investors sold stocks of materials, energy and industrials companies after a dramatic slide in oil and gold prices as well as disappointing earnings results from companies such as Caterpillar and Freeport McMoran Inc. Amazon.com shares soared 10% after surprise profit growth, but gains were not enough to stem selling pressure on main indexes. The S&P 500 closed 22.50 points, or 1.1%, lower at 2,079.65, booking a 2.2% weekly loss. The weekly decline for the benchmark is the steepest since March. The Nasdaq Composite dropped 57.78 points, or 1.1%, to 5,088.63, ending the week with a 2.3% weekly loss. The tech-heavy index retreated from its record closing level set on Monday. The Dow Jones Industrial Average dropped 163.39 points, or 0.9%, to 17,568.53, recording a 2.9% weekly loss.

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