The Dow Jones industrial average .DJI fell 45.13 points, or 0.24 percent, to 18,552.57, the S&P 500 .SPX lost 3.15 points, or 0.14 percent, to 2,183.87 and the Nasdaq Composite .IXIC dropped 1.77 points, or 0.03 percent, to 5,238.38.
Stock on major markets fell worldwide on Friday while the U.S. dollar strengthened as investors began to price in a greater likelihood that the Federal Reserve will raise interest rates this year.
European share markets posted their biggest weekly loss in two months, while U.S. stocks edged lower, led by declines in utility shares as investors weighed prospects for an interest rate increase in the coming months.
San Francisco Federal Reserve Bank President John Williams late on Thursday said if the U.S. central bank waited too long to raise rates, it could be costly for the economy and that a possible rate hike in September should be in play.
The comments added to statements perceived as hawkish from New York Fed President William Dudley earlier in the week.
Investors also are bracing for next week's meeting of global central bankers in Jackson Hole, Wyoming, where Fed Chair Janet Yellen may provide insight on the rate outlook.
Asian shares slipped on Monday and the dollar pulled away from last week's lows on expectations that a signal might emerge from a Federal Reserve gathering this week in Jackson Hole, Wyoming that the U.S. central bank is gearing up to hike interest rates.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was down 0.2 percent, after losing 0.3percent last week. Wall Street logged modest losses on Friday, ending nearly flat for the week.
Reference: Reuters
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