NEW YORK (AP) — Stocks are closing lower on Wall Street, led by declines in banks and energy companies.
Deutsche Bank plunged 9 percent Friday after saying it won't pay the $14 billion the U.S. government is asking for to settle claims over its handling of mortgage securities in the run-up to the 2008 financial crisis.
Big U.S. banks also fell. JPMorgan Chase and Citigroup each lost 1 percent.
Business software maker Oracle dropped 5 percent after its earnings fell short of analysts' forecasts.
The Dow Jones industrial average fell 88 points, or 0.5 percent, to 18,123.
The Standard & Poor's 500 index lost 8 points, or 0.4 percent, to 2,139. The Nasdaq composite declined 5 points, or 0.1 percent, to 5,244.
The yield on the 10-year Treasury note held at 1.69 percent.