US stocks fall as market mulls Fed\\\'s next move

US stocks finished sharply lower on Friday after a news-packed week that bolstered confidence in the economy even as speculation grew that the Federal Reserve will more quickly raise interest rates. The Dow Jones Industrial Average sank 467.20 points (2.75 per cent) to 16,493.37, its deepest weekly decline since January. The broad-based S&P 500 tumbled 53.19 (2.69 per cent) to 1,925.15, while the tech-rich Nasdaq Composite Index lost 96.92 (2.18 per cent) at 4,352.64. The market's most dramatic day came Thursday, when the Dow lost more than 300 points and gave up all its gains for 2014. Analysts have attributed the rout to a variety of factors including weak eurozone data, disappointing earnings and the Argentine debt default. But on Friday, some analysts saw Thursday's losses and the sudden rise in volatility this week as having one catalyst above all others: worries over the timing when the US Federal Reserve will raise interest rates. ‘It's the Fed because the market has been propelled by low rates,’ said Sam Stovall, chief investment strategist for S&P Capital IQ. ‘So now the question is how much of that propulsion will be cut back?,’ according to AFP.