US stocks fall Friday as Brent crude hits $116

Rising oil prices pressured Wall Street on Friday, pushing the S&P 500 down 0.5% and the Dow Jones Industrial Average down 1.2%. Brent crude oil, the international standard, climbed 3.1% to top $116 a barrel, marking its highest level since June 2022.

The S&P 500 closed at 7,623.68, a decline of 39.75 points. The Dow Jones Industrial Average dropped 652.82 points to finish at 52,215.16. The Nasdaq composite slipped 0.2%, or 53.52 points, to 25,955.34 after relinquishing a modest gain earlier in the session. The Russell 2000 index of smaller companies fell 8.13 points, or 0.3%, to close at 2,775.90.

European markets closed mostly lower, with France's main index down 0.4%. Yields on French government bonds eased slightly during the session. In the United States, the yield on the 10-year Treasury rose to 4.99%.

For the week ending Friday, the S&P 500 was down 35.76 points, or 0.5%, while the Dow gained 212.75 points, or 0.4%. The Nasdaq lost 184.69 points, or 0.7%, and the Russell 2000 added 54.53 points, or 2%.

Year-to-date performance shows the S&P 500 up 778.18 points, or 11.4%. The Dow stands up 4,151.87 points, or 8.6%. The Nasdaq has gained 2,713.35 points, or 11.7%, and the Russell 2000 is up 293.99 points, or 11.8%.