(CNBC) U.S. stocks closed about 1 percent lower on Friday, despite surprisingly strong Amazon earnings, as signs of slower global growth weighed on sentiment. ( Tweet This )
The major averages closed down more than 2 percent for the week, with the Dow Jones industrial average the worst performer, off nearly 2.9 percent for the week.
“I think the market’s very much concerned about the commodity (decline),” said John Lonski, chief economist at Moody’s. “The contraction in China manufacturing activity is gaining momentum and the credit market has yet to signal that rates are not about to go higher.”
