A Fall At The Finish

The Dow Jones industrial average gave back all of its gains for the week on Friday, posting a triple-digit loss after Federal Reserve Board chief Alan Greenspan warned about the large current account deficit in the U.S., which caused the dollar to drop further and triggered fears about an increase in inflation and interest rates. Investors were further spooked after oil prices surged 5 percent Friday amid worries about adequate winter heating supplies. The Dow closed down 1.1 percent at 10,457, while the Nasdaq, hit by a decline among semiconductor stocks, dropped 1.6 percent to finish at 2,071. Advertising stocks, meanwhile, were mixed. WPP, trading as American Depository Receipts on the Nasdaq, closed at $54.37, up about 1.4 percent. On the Big Board, Omnicom closed at $82.70, down 0.4 percent, while IPG ended at $12.20, up 1.2 percent.