The Dow closed down -139.46 (-1.06%) at 13,093.16.
For the week DJIA was down -0.1%, Nasdaq -0.2%, S&P 500 +0.2% and Russell 2000 +0.1%.
Remember, markets were closed Monday and Tuesday due to carnage by Hurricane Sandy.
Year-to-date DJIA is up +7.2%, Nasdaq +14.5%, S&P 500 +12.5% and Russell 2000 +9.9%.
There were 4 Dow stocks up led by BAC (+1.13%), DIS, MRK and MCD.
Pfizer (PFE) was the only Dow stock unchanged.
There were 25 Dow stocks lower led by CVX (-2.77%), CAT, DD, IBM, HPQ, UNH and XOM.
There are no Dow stocks at 52 week highs. There is HPQ at a 52 week low though.
I do believe we are in a holding pattern until we get the presidential election over with.
The pending fiscal cliff poses the biggest threat to stock market and needs to be fixed soon.
Myself and many others believe the simultaneous onset of tax increases and spending cuts that will be triggered on Jan. 1 will push the country back into recession and drive unemployment upward which of course will kill the markets.
The dollar was up against the euro, British pound and Japanese yen.
Oil for December delivery dropped 2.6% to $84.86 a barrel.
Gold futures for December delivery was also down, losing 2.4% to $1,675.20 an ounce.
The price on the benchmark 10-year U.S. Treasury was down, pushing the yield up to 1.73% from 1.71% late Thursday.