U.S. stocks sink as investors mull Fed’s rate decision

U.S. stocks fell sharply Friday on concern about the outlook for global growth, one day after the Federal Reserve decided to hold off raising interest rates.

The Dow Jones industrial average dropped 292 points, or 1.8 percent, to close at 16,382, on Friday.

The Standard & Poor's 500 index slumped 32 points, or 1.7 percent, to 1,958, and the NASDAQ composite declined 66 points, or 1.4 percent, to 4,827.

The day's losses wiped out all of the stock market's gains for the week.

Energy stocks fell more than the overall market as the price of crude oil fell sharply.

Bonds prices rose, pushing down the yield on the 10-year benchmark Treasury note to 2.13 percent

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