U.S. stocks closed sharply lower on Friday, with the S&P 500 ending its worst week since August, as plunging crude oil prices compounded investor nervousness on expectations for the first U.S. interest rate hike in nearly a decade.
Oil dragged down market as a whole, as investors worried whether a weakness in commodities signaled a broader slowdown.
Furthermore, investors were worried about declines in China's yuan and in high-yield debt markets.
"Positioning has been clearly along the lines of taking risk exposure off," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles.
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Oil dragged down market as a whole, as investors worried whether a weakness in commodities signaled a broader slowdown.
Furthermore, investors were worried about declines in China's yuan and in high-yield debt markets.
"Positioning has been clearly along the lines of taking risk exposure off," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles.
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