The stock market stumbled Friday to its biggest loss since June as traders worried that interest rates may finally be heading higher.
Utilities and phone stocks, which investors have sought out this year for their high dividends, fell far more than the rest of the market. Energy companies, which have also gained a lot this year, took a drubbing as the price of crude oil slumped.
The Dow Jones industrial average lost 394.46 points, or 2.1 percent, to 18,085.45.
The Standard & Poor's 500 index fell 53.49 points, or 2.5 percent, to 2,127.81.
The Nasdaq composite slid 133.57 points, or 2.5 percent, to 5,125.91.
For the week:
The Dow is down 406.51 points, or 2.2 percent.
The S&P 500 is down 52.17 points, or 2.4 percent.
The Nasdaq is down 123.99 points, or 2.4 percent.
For the year:
The Dow is up 660.42 points, or 3.8 percent.
The S&P 500 is up 83.87 points, or 4.1 percent.
The Nasdaq is up 118.50 points, or 2.4 percent.
This story has been automatically published from the Associated Press wire which uses US spellings