A wave of late selling pummeled U.S. stocks Friday and pushed the market to its worst week in four years. The dismal start to the new year comes as investors worry that China's huge economy is slowing down. That has helped send the price of oil plunging to its lowest level since 2004, the latest blow to U.S. energy companies.
The Dow Jones industrial average dropped 167.65 points, or 1 percent, to 16,346.45.
The Standard & Poor's 500 index fell 21.06 points, or 1.1 percent, to 1,922.03.
The Nasdaq composite index shed 45.80 points, or 1 percent, to 4,643.63.
For the week:
The Dow is down 1,078.58 points, or 6.2 percent.
The S&P 500 is down 121.91 points, or 6 percent.
The Nasdaq is down 363.78 points, or 7.3 percent.