Economy / Markets
Oil, not chips, drives the Dow down 653 points
US stocks fell on Friday as Brent settled at $116.72 a barrel, up 3.1% and its highest close since April, after Houthi attacks on Saudi Arabia. The Dow lost 652.82 points, or 1.2%, to 52,215.16 while the S&P 500 slipped 0.5% to 7,623.68 and the Nasdaq 0.2% to 25,955.34 as chip shares steadied. Energy was the one strong corner, up 2.5% at a record. The S&P fell 0.5% on the week; the Dow gained 0.4%.