Growth Worries Causes Major Markets to Lose Ground

Stocks fell on Friday as further losses in oil prices sparked fears of a global economic slowdown, but the major indexes still managed solid weekly gains.

The Dow Jones Industrials plummeted 201.92 points to end Friday at 25,989.30, as losses in Caterpillar and Goldman Sachs offset gains from Disney.

The S&P 500 dropped 25.82 points to 2,781.01, led lower by consumer discretionary shares and tech.

The NASDAQ dumped 123.98 points, or 1.7%, to 7,406.90, as shares of Facebook, Amazon, Netflix and Alphabet all traded lower.

But equities still recorded strong gains for the week, following a big post-midterm elections rally. The S&P 500 picked up 2.8%, and the Dow gained 2.1% for the week, respectively. The NASDAQ, meanwhile, rose 0.7%. This week's gains were the biggest for the Dow since the week of March 9, when it rose 3.3%

On the earnings front, Yelp shares plunged more than 26% after releasing its latest quarterly results. Dow-member Disney, meanwhile, rose 1.7% on the back of better-than-expected results.

Prices for the benchmark for the 10-year U.S. Treasury jumped, lowering yields to 3.19% from Thursday’s 3.24%. Treasury prices and yields move in opposite directions.

Oil prices lost 82 cents to $59.85 U.S. a barrel.

Gold prices subtracted $14.90 an ounce to $1,210.20 U.S.