(NEW YORK) – U.S. stocks dropped on Friday, giving the S&P 500 its worst day since June, as investors grew nervous following a nuclear test by North Korea and comments by Federal Reserve officials that hinted at a U.S. interest rate hike.
The Dow Jones industrial average fell 394.46 points, or 2.13 percent, to 18,085.45, the S&P 500 lost 53.49 points, or 2.45 percent, to 2,127.81 and the Nasdaq Composite dropped 133.58 points, or 2.54 percent, to 5,125.91.
The three major indexes posted their largest weekly declines in months.
More Must-Reads From TIME
- What We Know So Far About the Deadly Earthquakes in Turkey and Syria
- Beyoncé's Album of the Year Snub Fits Into the Grammys' Long History of Overlooking Black Women
- How the U.S. Shot Down the Alleged Chinese Spy Balloon
- Effective Altruism Has a Toxic Culture of Sexual Harassment and Abuse, Women Say
- Inside Bolsonaro's Surreal New Life as a Florida Man—and MAGA Darling
- 'Return to Office' Plans Spell Trouble for Working Moms
- 8 Ways to Read More Books—and Why You Should
- Why Aren't Movies Sexy Anymore?
- How Logan Paul's Crypto Empire Fell Apart