Dow Ends Day Down 367

S&P 500, Nasdaq also down
By Newser Editors and Wire Services
Posted Dec 18, 2015 3:21 PM CST
Dow Ends Day Down 367
Specialist Mario Picone, right, works on the floor of the New York Stock Exchange, Wednesday, Dec. 16, 2015. Stocks are opening higher, led by gains in banking shares ahead of an interest rate decision by the Federal Reserve.   (AP Photo/Richard Drew)

Stocks closed sharply lower, led by drops in banks and technology companies, as the market erased its gains from earlier in the week. The Dow Jones industrial average sank 367 points, or 2.1%, to 17,128 Friday. The Standard & Poor's 500 index fell 36 points, or 1.8%, to 2,005. The Nasdaq composite lost 79 points, or 1.6%, to 4,923.

Apple and Microsoft each fell 3% Friday. Drilling and transportation companies also logged steep losses, and used car dealership chain CarMax fell 6% after releasing disappointing results. Trading volume was much heavier than usual as many futures and options contracts expired. Bond prices rose. The yield on the 10-year Treasury note fell to 2.20%. (Read more Dow Jones stories.)

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