Dow ends 230 points lower Friday, stocks book second week in a row of declines

U.S. stocks closed lower Friday and booked a second week in a row of declines, as investors kept an eye on Russia and Ukraine, fearing an outbreak of war. President Biden is due to speak shortly after the closing bell on Russia tensions, with a focus on “continued efforts to pursue deterrence and diplomacy, and Russia’s buildup of military troops on the border of Ukraine,” the White House said Friday. The Dow Jones Industrial Average DJIA, -0.68% fell about 232 points Friday, or 0.7%, ending near 34,079, for a 1.9% weekly loss. The S&P 500 index SPX, -0.72% closed down about 31 points Friday, or 0.7%, near 4,348, narrowly avoiding a close in correction territory. It lost 1.6% for the week. The Nasdaq Composite Index COMP, -1.23% shed 168 points, or 1.2% Friday, while shedding 1.8% for the week.