Stocks Ended Lower as Brexit Fears Cast Long Shadow

U.S. stocks finished lower on Friday, as the looming “Brexit” vote in the U.K. and lingering worries about the Federal Reserve’s reluctance to raise interest rates weighed on shares. The Dow industrials slid 57.94 points, or 0.33%, to 17,675.16 and posted weekly fall of 1%. The S&P 500 shed 6.77 points, or 0.33%, to 2,071.22 and posted 1.1% weekly decline. The Nasdaq Composite shed 44.58 points, or 0.92%, to 4,800.34 and posted 1.8% weekly loss.

Housing starts dipped in May but building permits, a sign of future activity, rose as the housing market continues to show modest progress. New-home construction edged down 0.3% from April to a seasonally adjusted rate of 1.16 million, the Commerce Department said Friday.

Oil futures rallied on Friday, buoyed by a weaker U.S. dollar. July West Texas Intermediate crude added $1.77, or 3.8%, to settle at $47.98 a barrel on the New York Mercantile Exchange. August Brent crude climbed $1.98, or 4.2%, to end at $49.17 a barrel on London’s ICE Futures exchange.

The value of digital currency Ethereum tanked Friday after hackers stole the equivalent of more than $50 million from an organization that controls large amounts of the cryptocurrency.

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