(excerpt from)

  More Volatility Sends Market Down for a 3rd Week

Utilities, major exporters and companies that make basic materials like steel had the biggest declines.

The sell-off came at the end of a volatile week, and it sets the stage for a Federal Reserve policy meeting next week. Investors will be watching closely for clues about the central bank’s views on the economy and interest rates.

“This week has really been about investors’ outlooks adjusting in the face of higher interest rates later this year,” said Gabriela Santos, a global market strategist at JPMorgan Funds.

The Dow Jones industrial average fell 145.91 points, or 0.8 percent, to 17,749.31. The Standard & Poor’s 500-stock index lost 12.55 points, or 0.6 percent, to 2,053.40, and the Nasdaq lost 21.53 points, or 0.4 percent, to 4,871.76. Continue reading the main story

Benchmark United States crude fell $2.21 to close at $44.84 a barrel in New York. Oil is now within 40 cents of its low for the year, and its lowest level in six years, after a drop of 10 percent this week. Brent crude, a benchmark for international oils used by many American refineries, fell $2.41 to close at $54.67 a barrel in London.

Several energy stocks followed the price of oil lower...

[snip]

In the bond market, United States government bond prices did not move much. The yield on the 10-year Treasury note was unchanged at 2.12 percent.

Gold edged up 50 cents, to $1,152.40 an ounce, silver fell 2 cents, to $15.49 an ounce, and copper was flat at $2.66 a pound.

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(excerpt from)

US stocks fall for third-straight week; worries about oil prices and interest rates persist

The stock market was hit hard Friday, capping a third week of declines, as investors reacted to a steep drop in oil prices and a jump in the value of the dollar.

Utilities, companies that make basic materials like steel, and major exporters had the biggest declines.

The sell-off came at the end of a volatile week and sets the stage for a Federal Reserve policy meeting next week. Investors will be watching closely for clues about the central bank's views on the economy and interest rates.

"This week has really been about investors' outlooks adjusting in the face of higher interest rates later this year," said Gabriela Santos, a global market strategist at JPMorgan Funds.

Traders gather at a post on the floor of the New York Stock Exchange, Friday, March 13, 2015. U.S. stocks are opening slightly lower a day after the market notched its best performance in five weeks. (AP Photo/Richard Drew)

The Dow Jones industrial average fell 145.91 points, or 0.8 percent, to 17,749.31. The Standard & Poor's 500 index lost 12.55 points, or 0.6 percent, to 2,053.40 and the Nasdaq composite lost 21.53 points, or 0.4 percent, to 4,871.76.

Oil dropped sharply after the International Energy Agency said prices had further to fall because supplies were continuing to rise. Benchmark U.S. crude fell $2.21 to close at $44.84 a barrel in New York. Oil is now within 40 cents of its low for the year, and its lowest level in six years, after a drop of 10 percent this week. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $2.41 to close at $54.67 a barrel in London.

[snip]

Gold edged up 50 cents to $1,152.40 an ounce, silver fell two cents to $15.49 an ounce and copper was flat at $2.66 a pound. In other energy trading, wholesale gasoline fell 4.8 cents...

(excerpt from)

U.S. stocks end rocky stretch with third straight weekly loss

Consumers aren't as optimistic. Sentiment index slides in March.

U.S. stocks suffered another bout of selling on Friday and the main indexes registered losses for a third straight week.

The turbulent week was dominated by wild swings in currencies, with the dollar surging to multiyear highs against the euro as expectations rose for a rate hike by the middle of the year.

Oil prices fell nearly 10% over the week as the commodity had been hit hard due to a stronger dollar, reports of a supply glut and heightened output. Weaker-than-expected economic data added to the dour Wall Street mood.

The S&P 500 SPX, -0.61% closed 12.55 points or 0.6%, lower at 2,053 and lost 0.9% over the week. Energy sector stock led the decliners over the week, falling 2.8%.

The Dow Jones Industrial Average DJIA, -0.82% dropped 145.91 points, or 0.8%, to 17,749.31 and recorded a 0.6% loss over the week.

The Nasdaq Composite COMP, -0.44% ended the day down 21.53 points, or 0.4%, at 4,871.76 and lost 1.1% over the week.

Investors grappled with mixed economic reports over the week. Friday’s producer prices report showed a surprise drop. Meanwhile, consumer sentiment slid in March, falling more than experts had forecast. Those less-than-stellar reports followed a report on Thursday showing a sharp fall in unemployment claims.

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Regardless, Skelly thinks market reaction to the eventual hike will be measured.

The Federal Open Market Committee meets on Tuesday and Wednesday, and although no rate changes are expected, investors will closely be watching Chairwoman Janet Yellen’s news conference for hints on how patient the central bank will be before tightening its monetary policy.

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Then again, universal doom'n'gloom's usually a very bullish indicator.  That and the fact that most of the price plunge took place before this past week when the trend turned flat...