Dow drops more than 500 points on Fed worries

Stocks fell Friday, with the Dow Jones Industrial Average posting its biggest weekly decline since October on worries the Federal Reserve might begin lifting rates sooner than previously expected. The Dow DJIA, -1.58% fell around 532 points, or 1.6%, to close near 33,291, according to preliminary figures. The blue-chip gauge fell 3.5% for the week, its biggest since a drop of more than 6% in the week ending Oct. 30, according to FactSet. The S&P 500 SPX, -1.31% fell around 55 points, or 1.3%, to close near 4,166, while the Nasdaq Composite COMP, -0.92% declined around 131 points, or 0.9%, to finish near 14,030. The S&P 500 suffered a weekly fall of 1.9%, while the Nasdaq saw a loss of 0.3%.

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