(CNBC) U.S. stocks declined on Friday, with the Nasdaq Composite posting its first weekly drop in six, as concern escalated about Ukraine, two days before a vote in Crimea on joining Russia.
The CBOE Volatility Index (VIX), a measure of investor uncertainty, spiked nearly 9.3 percent to 17.73.
"The market is volatile, but not too volatile to cause any problems yet. The problem with yesterday was we had a lot of better economic news. I know there is concern about Ukraine and also China, but we had good numbers, yet couldn't maintain a rally," said Bruce Bruce Bittles, chief investment strategist at RW Baird.
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"Maybe we're in a topping phase," he added.