OGC:CC - Rate Fears Conspire to Make the Week Worst for Stocks Since September

Stocks gyrated on Friday, but headed for a down week as worries over continued rate hikes persisted.

The Dow Jones Industrials hurtled lower 305.02 points to 33,475.46, sustaining its worst week since September.

The S&P 500 tailed off 29.13 points to 3,934.38

The NASDAQ Composite Index retreated 77.39 points to 11,004.62

For the week, the Dow was off by 2.3%, while the S&P 500 fell 2.8%. The NASDAQ was down 3.4%.

Shares of Lululemon fell more than 13% after the company gave a weaker-than-expected fourth-quarter outlook. Bath & Body Works' stock gained marginally as Dan Loeb revealed a boost in his stake. DocuSign jumped on strong results.

Friday's moves came as November's producer price index showed higher-than-expected wholesale prices, which rose 0.3% last month and 7.4% over the previous year. That topped the 0.2% gain expected by economists polled by Dow Jones. Core PPI, which excludes food and energy, rose 0.4%, beating an estimate of 0.2%. Optimistic consumer sentiment data helped to alleviate some fears.

Prices for the 10-year Treasury fell, raising yields to 3.59% from Thursday's 3.49%. Treasury prices and yields move in opposite directions.

Oil prices were unchanged from Thursday at $71.46 U.S. a barrel.

Gold prices gained $5.70 to $1,817.30 U.S. an ounce.