U.S. stocks close lower on oil drop, Brexit fears

U.S. stocks closed lower Friday, with only blue chips holding onto slight gains for the week, as anxiety over a possible exit of the U.K. from the European Union and a drop in oil prices weighed on markets. The Dow Jones Industrial Average fell 119.85 points, or 0.7%, to close at 17,865.34, for a weekly gain of 0.3%. The S&P 500 Index declined 19.41 points, or 0.9%, to finish at 2,096.07, for a loss of 0.2% on the week. The Nasdaq Composite Index dropped 64.07 points, or 1.3%, to close at 4,894.55, for a weekly loss of 1%. Oil futures slipped back below $50 a barrel, settling down 3% at $49.07.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.