U.S. markets drop to finish rough week

New York -- U.S. markets ended a rough week Friday with further drops in financial firms and a record set for crude oil prices.

The Dow Jones industrial average rebounded from its midday low, which included J.P. Morgan Chase down 3.6 percent and Citigroup lower by 2.2 percent, The Wall Street Journal reported.

Oil prices scampered higher, reaching a record at midday at $142.99 per barrel before setting down to $140.85 late in the day.

By the close, the DJIA was off 0.93 percent or 106.91 points to 11,346.51.

The Standard and Poor's 500 index lost 4.77 points to 1,278.38, down 0.37 percent. The Nasdaq composite index fell 0.25 percent to 2,315.63, down 5.74 points.

On the New York Stock Exchange, 1,163 stocks advanced and 1,970 declined on volume of 2.293 billion shares traded.

The 10-year U.S. Treasury note gained 17/32 to yield 3.965 percent.

The dollar traded lower. The euro traded at $1.5788 from Thursday's $1.5764, while the dollar traded at 106.09 yen from Thursday's 106.69 yen.

In Tokyo, the Nikkei index lost 277.96 points to 13,544.36, off 2.01
percent.

In London, the FTSE 100 index rose 11.70 points to 5,529.90, up 2.1 percent.

Copyright 2008 by United Press International.