U.S. Stocks Sell Off Hard, End Week Lower

U.S. stocks closed sharply lower on Friday as a confluence of intensifying Greek default fears and new stock-market regulation from China put investors on edge. The S&P 500 and Dow industrials suffered their biggest one-day point declines in more than three weeks. The main indexes recorded their first weekly losses after two consecutive weeks of gains. The S&P 500 closed 23.83 points, or 1.1%, lower at 2,081.16 and recorded a 1% loss over the week. The Dow Jones Industrial Average dropped 279.67 points, or 1.5%, to 17,826.10 and ended the week 1.3% lower. The blue-chip average turned negative for the year. The Nasdaq Composite ended the session down 75.98 points, or 1.5%, to 4,931.81 and lost 1.3% over the week.