(CNBC) U.S. stocks closed sharply lower Friday as investors weighed low oil and economic data in the aftermath of the Federal Reserve's rate hike Wednesday. Options expiration also contributed to volatility. ( Tweet This )
With Friday's late afternoon decline in stocks, the major U.S. averages wiped out gains for the week.
"In the context of the Fed we've removed some uncertainty. There's still some uncertainty about earnings going forward and you're experiencing that with some volatility in market pricing," said Timothy Hopper, chief economist at TIAA-CREF.
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