Global Stocks: U.S. stock indices fell amid declines in oil prices

U.S. stock indices fell on Friday weighed by declines in oil prices.

The Dow Jones Industrial Average fell 367.39 points, or 2.1%, to 17,128.45 (-0.8% over the week). The S&P 500 dropped 36.37 points, or 1.8%, to 2,005.52 (-0.3% over the week; financials led declines with a 2.5% fall). The Nasdaq Composite lost 79.47 points, or 1.6% to 4,923.08 (-0.2% over the week).

Earlier in the week Fed's decision to raise interest rates spurred a rally in stocks. Normally higher rates steepen the spread between ten-year and 2-year yields, but this effect is not seen yet this time. That's why investors focused on concerns over bank's exposure to energy companies.

This morning in Asia Hong Kong Hang Seng climbed 0.40%, or 86.09, to 21,841.65. China Shanghai Composite Index advanced 1.98%, or 70.42, to 3.649.88. The Nikkei fell by 0.41%, or 78.19, to 18,908.61.

Asian indices outside Japan rose.

Japanese stocks fell reacting to declines in Wall Street on Friday.

The People's Bank of China strengthened the daily fix for the yuan by 0.09% to 6.4753 per dollar avoiding an unprecedented 11th weakening in a row.