(CNBC) U.S. stocks closed well off session highs Friday, despite a rally in oil, as the yen strengthened against the U.S. dollar.
The major averages declined more than 1 percent for the week, the worst since Feb. 5 for S&P 500 and Nasdaq composite and the worst since Feb. 12 for the Dow Jones industrial average. ( Tweet This )
The S&P 500 clung to year-to-date gains in the close after briefly erasing them as the major averages temporarily turned lower in afternoon trade. The Dow Jones industrial average closed 35 points higher after earlier adding 152 points.
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"Certainly yesterday we traded with the yen strengthening and today we're doing it again," said Peter Boockvar, chief market analyst at The Lindsey Group.