Storm Worries

Stocks fell last week as investors watched Hurricane Rita’s progress through the Gulf Coast. Despite dropping more than 300 points into Thursday, the Dow’s losses slowed as the storm weakened Friday. Trading, however, was light as investors awaited the aftermath of the storm, which could once again threaten oil production. The Dow closed the week down 222.28 points (2 percent) to close at 10,419.59. The Nasdaq posted modest gains Friday to cut week-long losses, closing at 2,116.84, down 40.53 points (almost 2 percent). In advertising stocks, Omnicom fell steadily throughout the week, closing at 82.89, down 1.33 points (1.6 percent). WPP Group, trading as American Depository Receipts, also closed down 1.84 points (3.5 percent) to finish the week at 50.05. Despite dropping sharply on Monday, Interpublic Group recovered through the week, to finish down 0.1 points (0.9 percent), closing at 11.05.