Wall Street ends lower; oil declines

NEW YORK (AA) - Wall Street ended lower due Friday due to a combination of factors Friday.

Boston Fed President Eric Rosengren's hawkish remarks about a rate hike caused the stock market to begin the day with losses. Earlier Friday, he said interest rates should be raised "gradually."

Rosengren voted in favor of a rate hike Wednesday when the Fed kept its benchmark interest rate unchanged.

A decline in oil prices also contributed to losses on Wall Street.

At the final bell, American benchmark West Texas Intermediate was down to $44.74 -- a 3.5 percent loss. International benchmark Brent crude traded at $46.12 -- losing 3.2 percent.

The Dow Jones fell 131 points to end the day at 18,261 and the S&P 500 was down 12 points to 2,164. The Nasdaq lost 33 points to finish the day at 5,305.

On a weekly basis, however, the indexes managed to do well, thanks to rallies Wednesday and Thursday following the Fed’s decision. The Dow gained 0.8 percent for the week, while the S&P and the Nasdaq were each up by 1.2 percent.