Stocks Ended Sharply Lower, Oil Prices Closed at 17-month Low

U.S. stocks ended sharply lower on Friday to close out a week long equity-market rout, as investors grappled with concerns over the Federal Reserve’s hiking plans and a partial government shutdown. The Dow Jones Industrial Average dropped 414.23 points, or 1.81%, to 22,445.37. The S&P 500 fell 50.84 points, or 2.06%, to 2,416.58. The Nasdaq Composite fell 195.41 points, or 2.99%, to 6,332.99. For the week, the Dow and S&P were down around 7%, while the Nasdaq saw a more dramatic drop of 8.4%.

Oil fell on Friday with U.S. prices ending at a 17-month low, down more than 11% for the week, as a rise in active U.S. oil rigs exacerbated concerns tied to growing global crude production and a slowdown in energy demand. February West Texas Intermediate fell 29 cents, or 0.6%, to settle at $45.59 a barrel. February Brent fell 53 cents, or 1%, to end at $53.82 a barrel.

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