Updated at 12:14 p.m., Friday, January 25, 2008
Stocks end wild week with steep drop
Associated Press
Stocks finished a wild week with a steep drop Friday as investors got defensive again and cashed in some of their gains. Wall Street initially rose on a strong profit report from Microsoft Corp., but eventually sold off, not wanting to take any chances ahead of the Federal Reserve's meeting Tuesday and Wednesday on interest rates.
The Dow Jones industrial average dropped 171.44, or 1.38 percent, to 12,207.17.
The Standard & Poor's 500 index fell 21.46, or 1.59 percent, to 1,330.61.
The technology-heavy Nasdaq composite index fell 34.72, or 1.47 percent, to 2,326.20.
For the week:
The Dow is up 107.87, or 0.89 percent.
The S&P is up 5.42, or 0.41 percent.
The Nasdaq is down 13.82, or 0.59 percent.
For the year:
The Dow is down 1,057.65, or 7.97 percent.
The S&P is down 137.75, or 9.38 percent.
The Nasdaq is down 326.08, or 12.29 percent.
