US Stocks fell sharply giving back some of the strong gains experienced in the previous three days ending another volatile week on Wall Street.
The Dow Jones Industrial Average dropped 915.39 points, or 4.1 percent, to 21,636.78. The S&P 500 slid 3.4 percent to 2,541.47 while the Nasdaq Composite closed 3.7 percent lower at 7,502.38.
Boeing inclined 10.3 percent to lead the Dow lower. while, Chevron and Disney each fell more than 8 percent. Boeing fell after Treasury Secretary Steven Mnuchin said the airplane maker won’t seek a government bailout.
Energy and tech were the worst-performing sectors in the S&P 500 as they dropped 6.9 percent and 4.6 percent, respectively. Energy was pressured by a 4.8 percent drop in crude prices.
Still, the major averages posted strong gains for the week. The Dow rose 12.8% week to date, its biggest one-week gain since 1938. The S&P 500 gained 10.3% this week for its best weekly performance since March 2009. The Nasdaq also had its biggest weekly gain in 11 years, rising 9.1%.