U.S. stocks closed down and erased most of gains for the week on Friday as fears of more geopolitical turmoil and higher oil prices threaten to stifle rallies in coming weeks.
The worries overshadowed strong labor market news. U.S. unemployment fell below 9 percent for the first time in nearly two years, but investors quickly turned to focus on intensified fighting in Libya and simmering unrest throughout the region.
Based on the latest available data, the Dow Jones industrial average <.DJI> was down 88.32 points, or 0.72 percent, at 12,169.88. The Standard & Poor's 500 Index <.SPX> was down 9.82 points, or 0.74 percent, at 1,321.15. The Nasdaq Composite Index <.IXIC> was down 14.07 points, or 0.50 percent, at 2,784.67.
For the week, the Dow was up 0.3 percent, while the S&P and Nasdaq each were up 0.1 percent.
(Reporting by Caroline Valetkevitch; Editing by Kenneth Barry)