Dow Drops 652 Points as Oil Surges and Treasury Yields Climb

Wall Street ended Friday lower as rising oil prices and higher bond yields weighed on stocks. The Dow Jones Industrial Average fell 1.2% to 52,215, a loss of about 652 points, while the S&P 500 slipped 0.5% to 7,623 and the Nasdaq Composite lost 0.2% to 25,955. Nearly three in four S&P 500 stocks declined, and the S&P 500 posted its second straight weekly loss.

Selling was concentrated in financial and industrial names. Caterpillar fell 2.4%, JPMorgan and Citigroup each lost about 1.5%, and American Express dropped 3.7%. Technology held up better, with Micron up 2.5% and AMD and Intel each gaining about 1.7%.

Investors are now looking ahead to next week's Federal Reserve meeting and a heavy slate of earnings, including Alphabet, Amazon and Caterpillar.