The Dow Jones industrial average fell 279.47 points, or 1.5 percent, to 17,826.30. The Standard & Poor's 500 index lost 23.81 points, or 1.1 percent, to 2,081.18. The Nasdaq composite slid 75.98 points, or 1.5 percent, to 4,931.81.

Benchmark U.S. crude fell 97 cents to close at $55.74 a barrel in New York. U.S. crude finished up 8 percent for the week, however. Brent crude fell 53 cents to close at $63.45 in London. Wholesale gasoline fell 0.5 cent to close at $1.930 a gallon. Heating oil fell 2.6 cents to close at $1.882 a gallon. Natural gas rose 0.5 cent to close at $2.634 per 1,000 cubic feet.