August 28, 2016 11:55 AM
NEW YORK (AP) — Stocks ended on a weak note Friday after Federal Reserve officials said the case has strengthened for raising interest rates above the super-low levels that have helped fuel a seven-year bull market. Phone companies and utilities, which would suffer if interest rates rose and investors looked elsewhere for income, fell more than the rest of the market.
The Dow Jones industrial average fell 53.01 points, or 0.3 percent, to 18,395.40.
The Standard and Poor's 500 slipped 3.43 points, or 0.2 percent, to 2,169.04.
The Nasdaq composite rose 6.71 points, or 0.1 percent, to 5,218.92.
For the week:
The Dow is down 157.17 points, or 0.9 percent.
The S&P 500 is down 14.83 points, or 0.7 percent.
The Nasdaq is down 19.46 points, or 0.4 percent.
For the year:
The Dow is up 970.37 points, or 5.6 percent.
The S&P 500 is up 125.10 points, or 6.1 percent.
The Nasdaq is up 211.51 points, or 4.2 percent.
Updated: August 28, 2016 11:55 AM
(Copyright 2016 by The Associated Press. All Rights Reserved.)