U.S. stocks fell sharply Friday, erasing an early gain, as the market closed in on its third weekly decline in four weeks.
The latest wave of selling sent the Dow Jones Industrial Average down more than 500 points. The blue chip average is now down more than 1,000 points this week.
Losses in technology and health care stocks accounted for much of the market’s slide. Retailers and other consumer-focused companies, banks and industrial stocks also took heavy losses.
Utilities, which investors favor when they’re fearful, eked out a slight gain. Crude oil prices rose on news that OPEC members agreed to cut production next year.
The government said job growth in November fell short of economists’ expectations.