© Scanpix/AFP
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On
Friday S&P 500 index closed at 1,158.67 giving up 3.12 points or
0.3%. The total weekly loss for index was 4.7%. Downward trend through the week
was mainly caused by surging European bond yields amid growing uncertainty
regarding debt crisis. Energy stocks extended the major losses among 10 industries.
Chevron Corp. declined 1.56%, Marathon Petroleum Corporation lost
1.71% while Devon Energy Corp. dropped 1.58%. Safeway Inc. and Washington
Post Company added to index 2.5% and 2.25% respectively.