US stocks fell Friday, but ended higher for the week, as concerns about the debt crisis in Europe weighed on the market ahead of a long weekend.
Investors on both sides of the Atlantic are worried about Spanish banks and the failure of European leaders to come up with any good solutions, especially concerning Greece and its possibility of leaving the eurozone. This has left investor sentiment at an "extreme fear" level for the past two weeks.
But the negative tone was tempered by an index of US consumer sentiment, which rose in May to its highest level in more than four years.
The Dow Jones Industrial Average (NASDAQ:INDU) fell 75 points, or 0.6%, to end at 12,455. The S&P 500 (SPX) lost 3 points, or 0.2%, to 1,318. The Nasdaq (COMP) fell 2 points, or 0.1%, to 2,837.
Despite the weakness on Friday, all three indexes posted gains for the week, snapping a three-week losing streak. The Dow gained 0.7%, the S&P 500 rose 1.7% and the Nasdaq added 2.1%.
--Sorry that this article is late--