Wall Street closed a volatile, mixed week, as investors weighed the Federal Reserve’s first interest-rate increase in three years against a supply-driven spike in oil prices, a bond-market selloff, and a fresh debate over the risks of artificial intelligence.
The Dow Jones Industrial Average fell 1.69 percent for the week, closing at 51,681 on Friday. The S&P 500 ended nearly flat at 7,650. The Nasdaq Composite rose 0.72 percent, buoyed by a late-week rebound in semiconductor shares, while the small-cap Russell 2000—among the most sensitive to interest rates—fell 1.50 percent, the week’s worst performer.
The CBOE Volatility Index dropped 6.5 percent to 14.81, signaling a renewed sense of calm. …