Stock Market Ends Worst Week Since 2011

Dow, S&P 500, Nasdaq all decline
By Newser Editors and Wire Services
Posted Jan 8, 2016 3:17 PM CST
Traders work at the New York Stock Exchange, Friday, Jan. 8, 2016. A rebound in Chinese stocks helped shore up the mood in global stock markets Friday in the run-up to U.S. jobs data.    (Mark Lennihan)
camera-icon View 1 more image

(Newser) – The US stock market closed out its worst week since 2011, rattled by concerns over a slowdown in China's economy and plunging oil prices. The Dow Jones industrial average lost 167 points, or 1%, to 16,346 Friday. The Standard & Poor's 500 index fell 21 points, or 1.1%, to 1,922. The Nasdaq gave up 45 points, or 1%, to 4,643.

Energy stocks were among the biggest decliners again on Friday as the price of oil sank. Crude is trading just below $34 a barrel, its lowest price since early 2004. A big reason for the plunge in the oil price is concern that China's economy is stumbling. This week the country allowed its currency to weaken against the dollar, an ominous sign that growth there is petering out. (Read more Dow Jones stories.)

My Take on This Story
Show results without voting  |